The results of the private phase of the Carolina First campaign, which has been going on since July 1999, were scheduled to be announced during University Day celebrations Oct. 12. The public phase of the effort also would have begun at this time.
But Chancellor James Moeser said Friday that the public phase of the campaign -- and the announcement of initial results -- will be postponed indefinitely.
The campaign, a seven-year effort to raise private funds, is intended to triple the $499 million allocated to the University by a $3.1 billion higher education bond referendum passed last year.
Moeser said campaign officials -- in consultation with the Office of University Development -- decided last week that University Day would not be an appropriate time to stage a fund-raising kickoff because the economy is unstable and there is a looming possibility that the United States will go to war.
While no date has been formally set, campaign officials said the formal announcement might be deferred until the spring semester to gain a greater sense of the country's collective mood.
"It's just the announcement and the celebratory campaign," said Speed Hallman, director of development communications. "We just feel like a celebratory event would not be appropriate."
Hallman said the decision will not affect the campaign's overall time frame or long-term goals. "It's gone very well so far, and we wanted to kick it off. ... The timing is just not right right now," he said.
Matt Kupec, vice chancellor for university advancement, said the postponement will not halt any efforts to try to raise additional funds during the campaign's quiet phase. "We've met all our goals so far," he said. "We'll just extend the quiet phase."
After being closed for four days, the New York Stock Exchange reopened Monday. Stocks fell 684 points Monday -- the largest single-day point drop in history -- and continued to fall throughout the week. Economists have speculated the economy will continue to stagnate in coming months.
Kupec said fund-raising officials will take the economic situation into consideration while continuing to approach donors. "We will be very aggressive, but we'll look at the timing," he said.
Hallman also said it would be logistically difficult to arrange for campaign participants to arrive on University Day because the terrorist attacks have left many avoiding unnecessary airline travel.
But Kupec said officials are certain delaying the announcement of fund-raising accomplishments will not hinder UNC's mission to financially stabilize the University.
"The campaign will move on."
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