Again this year the "state" of our University is strong, healthy, brimming with promise. But it is still also in many ways fragile – as all human institutions are fragile – and its health and promise are in our hands.

I will speak first to matters of University "business" – those things about which I am most frequently asked and those things that can been seen or counted. Then I want to talk about things that cannot be seen or counted – not bricks or dollars or headcounts – but things equally if not more important: I want to talk about the character of our University. But first, let's get down to business.

Last year we spoke about a Plan which had been developed by a Task Force of faculty, staff, and friends of the University and which was subsequently approved by our Board of Control. This Plan set five-year goals for enrollments, staffing, facilities, technology, curriculum and other important matters. Considerable progress has been made towards several of these goals; let me mention a few highlights.