VCU Vice President for Finance finalist John Bennett meets with faculty, staff and students

By Michael Ford
University News Services

The governor’s chief budget and financial adviser said Monday his 20 years of experience in legislative and budgetary matters would serve him and the university well if he becomes the next vice president for finance at Virginia Commonwealth University.

John M. Bennett, secretary of finance for Virginia and one of two finalists for the position of vice president for finance at VCU, met Monday with faculty, staff and students at the student commons. Bennett said he has been through 18 budget conferences and been close to every major financial decision made in the commonwealth since the mid-1980s. He said his knowledge of the legislative and executive branches of state government and his experience with state budgets are strategic assets he would bring to VCU.

“I understand the legislative process, I understand state budgets, I understand state government,” Bennett said. “But what makes this job attractive to me and might make me attractive to you is my substantial amount of higher education experience in my former posts and my current position.

“I have had something to do with most of the major financial policies that underpin higher education: faculty salary benchmarks, higher education funding guidelines, two general obligation bond issues, higher education equipment trust fund and most recently, higher education restructuring,” Bennett said.

Bennett said he would focus on five areas if he is selected as the next vice president for finance: financial stability and strength, service to the community, innovation, safety and security and efficiency.

Developing Virginia’s budget and fiscal policies has been a large part of Bennett’s career in state government for the past two decades. Gov. Mark Warner appointed him in 2001 to serve as secretary of finance. From 1988 to 2002, he served as staff director of the Senate Finance Committee. His responsibilities included tax policy, the budget, bond authorization and debt issuance, retirement and other issues that would have a fiscal impact on the commonwealth.

From 1984 to 1988, Bennett was an analyst for the Senate Finance Committee. Prior to his service on that committee, Bennett was chief legislative analyst for the Joint Legislative Audit and Review Commission.

Bennett said he has known the senior administrators at VCU and other colleges and universities around the state for 20 years and has worked closely with them. Recently he has spent time learning more about VCU.

“When I first contemplated applying for this job, I spent some time walking around the campus, some weekdays, some weekends, just to get a feeling for what the rhythm of the place is like, not reading brochures, not going to talk to senior officials,” Bennett said. “There’s a lot of energy around VCU.”

Bennett received his bachelor’s degree from the College of William and Mary and has extensive post-baccalaureate experience in urban studies and planning from Virginia Tech.

The other finalist for the position is Demerst B. Smit, Virginia’s commissioner for the Department of Motor Vehicles. Smit will meet with faculty staff and students at 11 a.m., on Thursday, Nov. 3, at the student commons in Commonwealth Ballroom A.

Paul Timmreck, VCU senior vice president for finance and administration, has announced his retirement, effective June 30, 2006. He has served as the university’s chief finance and administrative officer since 1996.