Edinboro University Faces $3.3 Million Deficit
Edinboro University will enter the 2015-2016 school year with a $3.3 million deficit.
Despite the deficit, on Tuesday, the Edinboro University Board of Trustees approved the $94 million budget.
"Even though we are starting the year with a $3.3 million deficit, we fully anticipate managing that through the year." Said Edinboro University VP of Finance & Administration Guilbert Brown.
According to Edinboro University President Dr. Julie Wollman, the university will make up for it through energy savings and attrition.
"In some cases, when a person leaves, that work actually, because it's becoming more electronic, can be done by another person and it isn't as much work as it used to be.” Said Dr. Wollman.
Edinboro University receives 27 percent of its funding from the state. But with the budget stalemate in Harrisburg, Brown says it’s unclear exactly how much they will receive.
"We’re assuming going forward with no change in that level of funding,” said Brown. “That has in fact been the case in Pennsylvania for the last several years. There has not been an increase in state funding.”
Edinboro University also increased tuition by 3.5 percent.
The university finished the 2015 school year with a $494,000 surplus. The money will now be used to help eliminate the deficit.