Wright State University is continuing to deal with financial problems as the school has so far overspent its budget for employee benefits by millions this year.
The university has spent $6 million on employee health benefits that were not planned for in its fiscal year 2018 budget, according to financial documents presented to the board of trustees in a meeting this morning. Trustees are expected to discuss the $6 million benefits overrun this morning.
The surprise expense isn’t great news for Wright State, which is aiming to increase reserves by $6 million by June 30.
Wright State trustees in June slashed more than $30.8 million from the school’s budget in an attempt to begin correcting years of overspending.
On top of the benefits costs, WSU officials have also been trying to remediate more than $5.9 million lost through enrollment declines and unexpected scholarship and fellowship costs of more than $1.5 million.
Administrators have said that they intended to make up those losses by leaving positions vacant at the school.