Wright State is in the midst of a budget crisis as university officials look for ways to cut back. Most recently, Wright State president David Hopkins announced a hiring freeze last week and in October the university announced it would lay off 23 employees.
Wright State officials have been reducing expenses for the past year as the school’s unrestricted reserve fund dropped from more than $100 million in 2012 to $12.9 million as of June.
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A decrease in enrollment this academic year resulted in a loss of $10 million in revenue, WSU officials have said. A “cash flow forecast” the finance committee will review Friday indicates the $10-million loss may have been partially offset by a drop in the number of refunds issued to students.
Wright State’s investment income also appears to be recovering from steep losses during Fiscal Year 2016. Friday’s meeting will likely offer more details to Wright State’s current financial standing.
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