McIntire School of Commerce Update

1. McIntire School of CommerceUpdate Fall 2004

2. Faculty Update • Goal: Research and teaching excellence • Four new tenured/tenure track faculty in Finance (2), Strategic Management (1), and Accounting (1) • Nine new full- and part-time general faculty teaching QA, strategy, accounting, ethics, finance, and organizational behavior • Expanded summer grant program to support program innovation and research • $402,000 (2002) to $518,000 (2004) • Substantial increase in academic and professional publications

3. Teaching Excellence • Rising teaching evaluations • Program innovation • Scholar-Practitioner Outreach • Annual symposium • Corporate branding initiative • Data management case research • Social network conference • Marketing Science grant for research and cases on executive wisdom

4. 2004 Undergraduate Admissions • 404 applications from UVA students; 17% of second-year class; 16% decline over large ‘03 pool. • 75% acceptance rate; 3.4 average GPA; 1340 avg. SAT • External transfers: 16% acceptance rate; 3.8 average GPA; 1220 avg. SAT • Diverse class: 45% female, 20% Asian, 5% African-American; 6% Hispanic

5. EBI - AACSB SurveyResults based on five years • Commerce School ranked first among major universities • Breadth of curriculum increased by 11% • Required courses: faculty, grading, and effort increased by 11% • Commerce Career Services Office is top ranked • Learning outcomes: Ranked first among major universities in: • Critical Thinking and Problem Solving • Effective Communication and Teamwork • Effective Management and Leadership Skills

6. McIntire Exit SurveyResults based on eight years • Writing skills increased by 17% • Public speaking skills increased by 5% • Exposure to cultural differences increased by 11% • Exposure to gender issues increased by 3% • Exposure to racial issues increased by 8%

7. Curriculum & Program Innovation • Making Business Work (COMM 180) is now a prerequisite and offered to 375 students this Fall • A nonprofit module was offered in ICE last Spring and enhanced for this coming Spring • The Finance Area revised its third and fourth-year offerings, and the IT Area is ready to make a curriculum recommendation to the faculty • Leadership and entrepreneurship programs are under development

8. International experiences include a variety of study-abroad options and international study trips, including expanding the third-year option to Paris and Madrid • A minor in International Management in cooperation with the College is under development • Non-degree programs expanding with MBI II

9. Graduate Programs • M.S. in Accounting - E&Y • E&Y Program has a strong and diverse enrollment with approximately 150 students each summer • M.S. in Accounting - Tax Consulting • 16 students from 11 different schools (with 4 from McIntire) • New track for M.S. in Accounting (Financial Reporting and Assurance) in final development phase • M.S. in the Management of Information Technology • 80-90 students with average 12 years work experience

10. 2004 – 2005 New Program Initiatives

11. M.S. in Commerce • 5th year program designed to meet the needs of students graduating from the arts and sciences, engineering, etc. • Structure includes core modeled on ICE with concentrations in general management and financial services • Approved by McIntire faculty and under review by University administration • Program launch to be determined

14. Development Update • 2003-2004 Results • Unrestricted Annual Gifts: $2.2 million • Overall results (total cash gifts, plus planned gifts): $5.2 million • Annual unrestricted fundraising results:

15. 2004 – 2005 Annual Goals

16. Summary Operating BudgetFYending June 30, 2004 McIntire Revenues FY 03-04 Budget Actual State and University Funds $ 7,034,595 $ 7,178,390 Graduate Programs 5,666,017 5,490,975 Transfers From Foundation 2,637,867 2,382,376 Endowment, Gifts & Other Income 1,817,6231,635,257 $ 17,156,102 $ 16,686,998 McIntire Expenses FY 03-04 Salaries $ 12,552,850 $ 12,778,282 OTPS 4,158,8363,698,481 $ 16,711,686 $ 16,476,763 Net Surplus (Deficit) $ 444,416 $ 210,235

17. McIntire EndowmentsInvestment Schedule at 6/30/04

18. Back to the Lawn:Review & Approvals • 100% plans due from architects on 11/15/04 • Sub bidding 10/1-11/15 in 3 phases. GMP due 12/31/04. • Landscaping - exterior and courtyard schematics completed • Varsity Hall relocation to Randall Hall site scheduled for Feb. 2005

19. Construction • Construction budget revised from $36M to $38M based on 95% plans • Convert CM Agency to At Risk w/ GMP • Major issues: • Varsity Hall (moving by 2/05) • Complete funding • Construction start 2/05 • Final completion date and occupancy currently under review

20. Financing • Project budget: $ 56.0M Construction budget: $ 53.375M Less UVa contribution: ( $6.9M) • Total commitments req’d to start: $ 46.5M Current commitments: $ 38.6M Commitment surplus (deficit): ($7.9M) • Total cash req’d to start: $ 23.25M Current cash: $ 18.05M Cash surplus (deficit): ($ 5.0M)

22. East Elevation

23. South Elevation

24. North Elevation

25. Exterior Landscaping-North

26. Exterior Shrubs and Groundcovers

27. Exterior Trees

28. Proposed gardens and terraces

29. View from East Side

30. Courtyard Pergola