The Board of Trustees meeting opened with President Cheryl Schrader announcing to the campus community that they would be able to avoid fiscal watch at the end of June with $7 million surplus .
According to Schrader this is the first time the university has ended the fiscal year with a surplus since 2012.
“Our success is apparent,” Schrader told the trustees. “We will end the year with a $7.2 million surplus to be added to our critically low reserves rather than deficit balances as was the practice in previous fiscal years. This year, together, we have changed a culture of overspending and delivered on our commitment to fiscal responsibility and accountability.”
The June 8 budget meeting for Wright State Board of Trustees was voted 7 – 1 and passed. Many trustees questioned the high budget given to athletics and the possibility of lay offs.
The fiscal year 2019 budget comes with the likelihood of cuts to around 40 jobs at the university according to Schrader and Chief Business Officer Walt Branson. Last year the university cut millions of dollars and 47 positions.
The exact number of cuts is unknown but administration believes that it will be lower than the previous years cut.
The university administration also presented their plans to increase enrollment domestically and internationally. One resource that was mentioned was Ruffalo Noel Levitz partnership and international partnerships and incentives.
Trustee Bruce Langos called the administration to see more creative ways to increase marketing and enrollment.
“How can we shock the other universities?” Langos said. “How can you disrupt the enrollment process.”
The administration is working on a fiscal sustainability plan that includes initiatives to increase fall enrollment, which is projected to be 16,224 students, down from 17,108 a year ago.
“Simply put, we must continue our focus on expanding and diversifying our revenue stream,” Schrader said.
