Temple recently posted its consolidated financial statement for fiscal year 2018-19. As in other recent years, the statement shows growth in the last fiscal year in revenue from tuition, grants and contracts, and unrestricted net assets. Liabilities were stable, and long term debts declined by 2.7%. If we remove patient care from our calculations, since the health system is not part of our bargaining unit, Temple cleared nearly $84 million in revenues over expenses overall (revenues for patient care last year were about $34 million over expenses). It continues to have in excess of $340 million in cash and cash equivalents.
We have tried to discuss Temple’s excellent fiscal situation at the table, but the administration has refused to engage in the conversation. We understand the need for fiscal prudence, however, without a compelling alternative account of Temple’s finances, we can’t accept the administration’s refusal thus far to move further toward our reasonable proposals on wages and benefits. We cannot accept their insistence on such large increases in healthcare costs. These proposals indicate the same ongoing disinvestment in faculty, librarians, and academic professionals that places Temple last among other public Research 1 Universities in the proportion of every dollar in tuition and fees they spend on instruction. We are asking for a long-overdue and modest change in this number and the priorities it reflects. Temple can do this.
Like the administration, we want to settle this contract and will work hard to do so. But as we try to understand their position, they must try to understand ours so that we can arrive at a fair settlement.