Citing a sagging economy and its impact on philanthropy Georgetown College has permanently slashed 14 positions.
Eight members of the private college's administrative and support staffs were notified on Wednesday, July 30, that their jobs have been eliminated. They include the staff of former governor Martha Layne Collins, Executive Scholar-in-residence at Georgetown.
In addition, six unfilled full and part-time positions have been cut from the school's operating budget.
"We've had extraordinary gifts from friends and alumni in helping us meet our operating budget but this year through the economic downturn, the stock market and everything else the folks who have come through before just haven't been able to do so," said Jim Allison, associate vice president for institutional advancement.
"It's not pleasant," he added. "We're very sorry that any of it has had to occur. But it does mean that at this point what we're doing is streamlining, taking a look at our budgets for the future, in the way that we do business."
"There have been some people hurt and I understand that," said Frankfort attorney Guthrie True, Chairman of the Georgetown College Board of Trustees.
According to True, Gov. Collins "is going to continue to have a role but it is going to be changed. I can't comment on that further because there are continuing discussions about that. But yes, there will be a change in her role and her responsibilities and a change in the source of her compensation."
True said he has been focusing on reducing the amount of donor contributions used for operating expenses at the college. "What we're doing is very much in line with that emphasis because this enables us to use donations to the college, particularly large donations, the way donors want them directed. If they want to endow a chair, that's fine. If they want to use them for building renovations, that's fine. If they want to endow a professorship or a particular program at the college, then that's fine."
Allison said enrollment for the fall semester remains on target.