The Board of Trustees arrived in Ithaca last night for what will be a series of long and daunting days marked by uncertainty. No one knows when world markets will stabilize or when the job outlook will become sustainable. As the trustees grapple with all of this, we cannot offer any comprehensive solutions. What we can do, however, is posit some advice.

Serving as Cornell’s governing board, the trustees have two overarching responsibilities. First, it is in their power to determine the University’s financial policies, while making decisions pertaining to construction, financial aid and academics. But second, the Board of Trustees must also keep in mind the moral and social responsibilities as managers of a multi-billion dollar investment portfolio.

In the current academic climate, the role of the Board of Trustees is destined to change. We feel that it is time to see a shift from the former to the latter, with a focus on the now, rather than the long-term.

We’ve seen this change of pace exhibited in recent months, as administrators have devoted their time and resources to reallocating the operating budget, rather than dwelling on how to make the endowment grow — a task that is far from possible in the current state of things.

With historically low endowment growth rates being reported, it’s clear that the University will be spending less. Thus, now is a more apt time than ever for the trustees to take a step back and reevaluate their role and duty to Cornell and the community.

Will they continue their mission of grand scale capital campaigns when there are no funds to be raised? Maybe it’s time to curb these efforts, and rather focus on more effectively allocating resources to breed a future generation of Cornellians that will be willing and able to give back in the future and sustain the University down the road.

As the market sinks to Depression-level depths, it’s critical that decisions regarding how to invest the remainder of Cornell’s investments will be left to the brains behind the operation in the investment office. Thus, the Board of Trustees should be taking on the more pressing needs of its current students, faculty and staff. How will the trustees ensure that every enrolled student has the financial resources to continue to foot their tuition bill? How will Cornell preserve the faculty, which provide the brick and mortar that maintain the Ivory Tower? How will the University continue to ensure the job opportunities that maintain the community at large?

Undoubtedly, the future fiscal security of the University must be considered. But what is the future of an institution that cannot fulfill the needs of the here and now? We hope the Board of Trustees will see past the long-term picture of the endowment, and focus on raising an operating budget that will sustain the day-to-day functions of the University.