NEW ORLEANS — New Orleans Baptist Theological Seminary announced significant budget cuts during a meeting attended by the seminary faculty and staff Jan. 19.
“We learned in December that New Orleans Baptist Theological Seminary would be seriously affected,” Chuck Kelley, seminary president, told the assembly.
“It appears our total income from the Cooperative Program, tuition, gifts and investments will be more than $1 million less than we anticipated.”
Kelley announced six steps the seminary is taking to decrease expenses and weather the tough economic times.
The budget cuts comprise adjustments in medical benefits, temporary salary reductions, temporary adjustments in faculty teaching loads, intentional reductions in campus energy consumption, a freeze on nonessential operating expenses and a hiring freeze.
Kelley’s plan calls for a 5 percent salary reduction for all faculty and staff members except those who lose medical coverage. The salaries of senior administrators will be reduced by 7 percent. Kelley will receive a 10 percent reduction in salary. Temporary teaching-load adjustments will be made for all faculty members.
Kelley said three hours will be added to the base teaching load and three hours will be added to the maximum load.
Kelley said the temporary increases in teaching loads will be in place for at least 18 months.
The nonessential operating expenses being frozen include purchases, travel and professional development. The budget adjustments, along with the hiring freeze, should balance the budget and stem any further cuts, Kelley said.
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