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WSU expected to be $2 million under budget: Student withdrawal cited

Photograph: Soham Parikh/The Guardian.

A recent financial analysis from Wright State University shows that there is an expected $1 million surplus by the end of this fiscal year, which is roughly $2 million under the university’s former projections.

The report cites decline in tuition and student withdrawals as reasons for falling under budget.

“Student withdrawals between January 31 and February 11 resulted in a decline in tuition and fees and a shortfall of $2.2 million is projected for the year,” the report says.

Since the start of the spring semester 405 students have withdrawn from the university while 494 enrolled, according to a Feb 11 report by the university.

As of Thursday, Jan. 31, the revenue was under budget by $310,000. In other revenue categories there was a total surplus of $1 million.

There will be a one-time adjustment to the WSU share of State Appropriations due to a change in the formula, resulting in a surplus for the year of $900. A projected decline in auxiliary services revenue is mostly offset by an increase in investment income for the year. Overall, revenue is expected to be $1.5 million under budget.

“Investment income includes $400K unrealized gain in private equity investments booked in September 2018,” the report says.

An area cited to provide a surplus was the number of unfilled positions on campus.

Sarah Cavender

Former Editor-in-Chief

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