Geoff Gamble Greetings Alumni, I'd like to share with you some highlights from the campus address that I recently presented as a kick-off to this new academic year. My conclusion: We are in great shape, and getting stronger every day. And this word is getting out. The outstanding faculty at MSU has attracted a record number of students--12,135 for fall 2003, with a freshmen class of 2,165. And our academic profile is increasing, as the average ACT test score and high school GPA are higher for incoming freshman than in the last 10 years. Our students continue to excel on a national level while they are with us. In the past four years, MSU students have won the nation's top three awards: Rhodes, Mitchell and Truman Scholarships. Currently, we rank eighth in the country for Goldwater Scholarship recipients, ahead of Cornell, Stanford and Johns Hopkins Universities, among others. Our graduating classes of accountants, engineers and nurses perform exceptionally well on their professional exams. Our 2002 accounting graduating class ranked number one in the nation on the Certified Public Accountant Exam's first-time pass rate. MSU had an 85.2 percent pass rate; the national first-time pass rate is 19 percent. On the Fundamentals of Engineering Exam, MSU students have a 95 percent pass rate, compared to a 79 percent national pass rate. On the National Licensing Exam for Registered Nurses, MSU students achieved a 96 percent pass rate, compared to an 86 percent national average. Last year, grants and contracts expenditures totaled $82.3 million. Our faculty members stay on the cutting edge of their disciplines and incorporate their research into their curriculum. Our students have the opportunity to work on real-world problems and develop the skills of problem analysis and teamwork. MSU faculty teaches 28 percent more students than peer faculty and attracts three times the dollars for grant-funded research. Because of this productivity, our instructional costs at MSU are 65 percent of what peer universities in our region spend. We educate students in Montana for $8,446 per student, compared to an average of more than $13,000 at neighboring universities. Our fiscal management practices were recently acknowledged when Moody's Investment Services upgraded MSU's bond rating, an important recognition by financial institutions that we have built a track record of being extremely effective on a limited resource base. We still face challenges. The state of Montana has only a certain amount of resources. The state may not be there for us in the future. I have asked the Regents to find solutions, look at models of other states and find creative ways to fund the special unmet needs of MSU. But, most encouraging to me are all the indicators that morale is up campus-wide. You can take great pride, as I do, in all that is happening at MSU. The current faculty, staff and students are continuing the long tradition that our alumni have established. As always, I thank you for your interest in our efforts and achievements, and for the continued support you provide your university. Sincerely, Geoff Gamble President, Montana State University Sincerely, Geoff Gamble MSU President