Nov 052013
 

Senior Administrators and the Board of Governors have budgeted an operating deficit of $44.5 million by 2015-16. This budgeted deficit is very different than having a deficit in the audited financial statements, and is based on a number of questionable assumptions that can fluctuate from year to year and have a significant impact on the bottom line. As a consequence the final state of the U of S financial situation in 2015-16 is impossible to predict accurately.

Senior Administrators and the Board have a responsibility to manage the finances of the University. However, they are not permitted to forecast a questionable financial crisis in order to induce faculty and staff layoffs. While it might be common practice at other institutions it is unacceptable to us.

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