As other universities announce cuts for budgets impacted by the economic crisis, Duke's Board of Trustees spent the weekend culling information about-rather than passing resolutions on-the underlying structures that have kept its finances relatively secure.

"There is a fact that we are in a very challenging financial time for everyone," Chair Robert Steel, Trinity '73, said in an interview with The Chronicle Saturday. "The good news is that Duke has been very prudently and conservatively managed from a financial perspective for quite awhile. No. 2, we also have very, very good day-to-day controls. And the combination of having been managed prudently and having good controls puts us in a position of having to work through the current challenges as well as one can."

Although officials have said they anticipate that more students may seek financial aid, this need will be cushioned by the 2005 Financial Aid Initiative, which has reached its overall $300 million goal.

President Richard Brodhead and Steel said there has been no discussion of tuition changes; last March, the Trustees approved a tuition increase of 5 percent. Actual budgeting across the University will come in January.

The agenda for this meeting was more than a year in the making, meant to deeply analyze financial modes for the University, health system, DUMAC and strategic planning and fundraising.

"As it turned out, that was a really good thing to be doing at this meeting," Brodhead said. "We just want to make sure that we match our resources with our mission and aspiration in the right way going forward."

Brodhead and Steel did not disclose specific numbers, noting that Duke has had to be adaptive but relies less on its nearly $8 billion endowment than some peers. DUMAC's most recent quarterly report for fiscal year 2008 showed the endowment had increased by 6.2 percent-still a much more conservative gain than typical-but Executive Vice President Tallman Trask told The Chronicle in October that he expected much of that had been lost in the ensuing economic crisis. Other streams of revenue for the University include tuition, gifts and grants.

"In some ways, it's a good thing to be the richest of the poor kids, or the poorest of the rich kids," Michael Schoenfeld, vice president for government affairs and public relations, said in an interview Thursday.

Steel added that University management is not a contest, but a matter of the individual execution of a University's priorities. Brodhead and Steel noted that current projects may be completed at a different pace or in a different order, depending on how each is funded or on the current economic outlook.

"You choose your analogy, but our boat is quite strong in these seas and they're rough seas, but it's in good shape and we're going to work through it," Steel said, echoing a sentiment that the University would be remiss to table plans for expansion.

To prepare for different sorts of storms, the Trustees approved a $75 million renovation of decades-old West Campus roofs. Over the past week, 10 architects presented individual visions for New Campus to University officials. Schoenfeld has said that New Campus will be funded from several resources, including debt, philanthropy and reserves.

In addition, the University is planning a major hospital expansion, and renovations are also expected for the West Union Building and future Dining Pavilion-to which the Trustees gave the go-ahead-and Page Auditorium.

Looking off-campus, plans for the Fuqua School of Business' ambitions abroad also moved forward, as the Trustees approved the establishment of an international corporation to account for the business portion of structuring overseas outposts.

The Trustees approved nine nominations for upcoming vacancies for its self-selecting Board. Brodhead and Steel declined to name the individuals being considered. Under the current bylaws, members of the Board are limited to two six-year terms. Some current Trustees have served more than this requirement, including Steel, because they were grandfathered in to the rules. Steel's term will end in June.

In an interview, Brodhead and Steel acknowledged the prominence of many members of the Board in managing the international economic crisis-including Steel, president and chief executive officer of Wachovia; Trustees Vice Chair Richard Wagoner, chair and CEO of General Motors; John Mack, CEO of Morgan Stanley; Xiqing Gao, president of China Investment Corp.; Alan Schwartz, former CEO of Bear Stearns. Brodhead and Steel said the University would remain entrusted to experts across a broad swath, consistent with the Board's "vintage."

In other business:

The Trustees approved the new Master of Science in Global Health degree, which will be offered through the Graduate School and administered by the Duke Global Health Institute.