I. Introduction

II. The History of the Financial Exigency Clause

1. Origins and Context
2. The 1970s and the Era of Retrenchment

III. Recommendations for Institutions Experiencing Financial Exigency

1. Determination of the Financial Conditions of the Institution
2. Another Suitable Position Elsewhere within the Institution
3. Personnel Priorities
4. Proposed Changes for Individual Institutions

IV. Conclusion