Durham, NC - President Richard H. Brodhead sent a message to Duke faculty and staff Wednesday that said even though Duke continues to enjoy "great strength and stability," he has asked deans and administrators to begin preparing scenarios for future savings.

Brodhead noted that the market value of the university endowment has dropped 19 percent between July 1 and early December, "but the news could be worse." For several reasons, the decline affects Duke's operating budget less than at many other universities, he said.

"Duke is fortunate to have responsible, prudent and creative leadership of both our investments and operations, which has shielded us from some of the worst aspects of this crisis and makes it possible to continue our forward momentum."

In preparing for the possibility of a sustained period of tight budgets, Brodhead said the university's goals are to bring the most resources possible to its strategic priorities and to protect its core commitments. Capital projects will be reviewed and postponed if there are no clear funding resources. Administrative and school budgets will be reviewed for potential cuts.

"All of us have been through a mix of better times and leaner times," Brodhead said. "When leaner days come, a family cuts back on less essential expenses and concentrates on what matters most. That is what Duke must do now, and I ask for your cooperation as we do it."