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UNIVERSITY OF AKRON - Ron Di Lalla - Realtor -

By
Real Estate Agent with Century 21 Discovery DRE 01813824

Experiencing hard times..

The University of Akron anticipates a $16 million deficit for next fiscal year.  The university has fought a projected deficit since 2015. Then, officials predicted a $60 million dollar shortfall over three years. The deficit led UA to eliminate hundreds of jobs, get rid of the baseball program and cut elsewhere.  The university attributes fiscal problems in part to a decline in enrollment, which is projected to continue at 7 percent for next year.  The cuts will keep coming; the 2018-2019 budget includes a 5-percent decrease in operating funds throughout the campus, including administration, auxiliaries, athletics and academics.   Leaders in each area will decide how to achieve that decrease.

Anonymous
Akron - Check Your Facts

You might want to look a bit deeper ...

The University of Akron had a projected deficit of $30 million during the 2016-17 academic year. Through the efforts of its new president (Matt Wilson) and the rest of his team, the University eliminated its deficit and posted a $12 million gain. As the University continues to adjust and transform in line with the area's demographics, it faced a $29 million deficit during the current 2017-18 academic year. Based on the University's announcement today, it appears that will be eliminated too. Despite its challenges, the University is making positive strides.

In case you missed it, the University of Akron had its financial outlook upgraded by Moody's recently. Fundraising results have improved by 100% this year. Also, the University is bringing back baseball in 2020 and adding women's lacrosse.

Jun 13, 2018 11:59 AM
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