: Starts with a note about the weather and life on campus, as well as the transition from winter sports to spring ones and the upcoming Fancy Dress. Also remarks on the development of the Capital Campaign, the importance of contributing back to the Washington and Lee Community, and the reasonable progress made so far. This letter coincides with the height of the admissions season, and the higher acceptance rate of alumni children. Notes that the operating budget for 1993-94 is almost finalized, as well as the importance of the financial security of the University in order to maintain its affordability and distinguished place in American education. Finishes on a positive note, and despite a tight budget, notes the blessings afforded to the University.