The chancellor of Ohio’s Department of Higher Education said he thinks Wright State University will succeed in dealing with its financial problems.
Just a few weeks ago, Wright State president Cheryl Schrader asked university departments to slash 66 percent of their remaining budgets in a last-ditch attempt to save $10 million and keep WSU off state fiscal watch.
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The $10-million budget cuts are the latest development in the university’s ongoing budget crisis. Last June, the WSU board of trustees slashed $30.8 million from the school’s budget in an attempt to begin correcting years of overspending.
Despite the school’s continued struggles, Ohio Higher Education chancellor John Carey said he is confident Wright State will succeed.
“I know this president and her administration have been very involved with this,” Carey said. “And I have faith in their leadership and we’ll continue to work with them to support them.”
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Earlier this month, Wright State leaders asked staff from the state department of higher education to review the school’s financial issues. The department’s finance director David Cummins said that the university is “shooting at a moving target” and that WSU leaders are having to look at every detail in order to correct budget problems.
“Wright State is obviously a very important part of higher education in Ohio and it’s our goal that they’re successful,” Carey said. “So, we’ll continue to work with them as they strive to perform their mission.”