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June 12, 2009
For Immediate Release
For an Interview:
Linda Makin
(801) 863-8457
Utah Rep. Dave Clark, Santa Clara, called Utah Valley University a "lean, mean, educating machine," while Commissioner William Sederburg believes UVU to be the most efficiently run university in the state. But former UVU Interim President Elizabeth Hitch knows the secret behind the University’s remarkably solid fiscal foundation, and this month readers of Utah Business magazine will know, too.
Linda Makin, executive director of planning & budget, and Val Peterson, vice president for administration and legislative affairs, have skillfully navigated UVU through mandatory state budget cuts, record enrollment growth and a tumultuous economic landscape this past year and, for their work, have jointly been dubbed government "CFO of the Year" by Utah Business magazine.
In July 2008, UVU’s appropriated tax fund revenue hovered around $68.5 million after receiving a $2 million university status boost from the Legislature. Two months later, UVU and the other institutions of higher learning were asked to reduce budgets due to the declining economy and state revenue shortfalls.
The charge of whittling $11.6 million from UVU’s budget fell in the laps of Makin and Peterson, and, according to Hitch, they trimmed and cut with precision.
"Linda Makin and Val Peterson were able to help UVU navigate through this incredibly difficult financial time," Hitch said. "In the end, the leanest of the state’s institutions lost a lot of positions, but was able to minimize the number of ‘real people’ who were laid off because of the creative and proactive approach taken by our CFOs."
And other institutions in the state paid attention, Hitch said.
"The clever approaches to slimming down the budget while serving more students caused the other Utah System of Higher Education institutions to take note, with some utilizing similar strategies to deal with the budget cuts," she said.
At the same time budgets were being slashed, UVU’s enrollment - now nearly 27,000 - was growing at a record pace. Nearly 3,000 additional students enrolled at UVU fall semester 2008, an increase of 12 percent over the previous year. This was the largest growth of any institution in the state.
Consequently, UVU, which receives the smallest percentage of state tax funding of all the institutions of higher education, was faced with the double-whammy of record enrollment growth combined with record funding cuts. Needless to say, that put incredible stresses on the institution, and Makin and Peterson were able to steer the University through this difficult time.
Both Makin and Peterson have been at UVU more than 20 years, and Hitch said they were able to call upon that knowledge when making tough financial decisions.
"They both have been integrally involved in UVU’s evolution over the past two decades. They have intimate knowledge of virtually everything at the institution from the academic programs to the office space," Hitch said.
Makin, who earned a master’s degree in public administration from BYU, has worked at UVU her entire career. She began as an administrative assistant for the dean in the School of Business. She then became a technician for the director of budgets, and nine years ago, she became the director of budgets. In 2009 she was given added responsibility as the executive director of planning & budget, where she now not only oversees the university’s budget, but also future strategic planning and ongoing assessment activities of the University.
Peterson started at UVU in 1987 after earning his bachelor’s degree in mass communication from BYU. He worked in university relations and eventually became associate vice president for college relations & marketing. He later earned a master’s degree in mass communications and Ph.D. in educational leadership from BYU. Seven years ago, he was named vice president for administration and legislative affairs and given responsibility for all of the business operations of the school, including physical plant, human resources and business office.
"They have a comprehensive knowledge of state statutes and the workings of the political machinery in the state," Hitch said. "That knowledge, combined with their thorough understanding of the budget, makes them extremely valuable to the institution."
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University Marketing Contact:
Erin Spurgeon
(801) 863-6807