The realignment plan expected a 1 percent growth in enrollment but an enrollment decline has resulted in a loss of $10 million this year. The university is also expected to take a loss of $2.5 million in investment income, according to the email.
The losses mean Wright State will now need to find $25 million in base savings for FY 2018 as opposed to the originally projected $8 million, Hopkins said.
Hopkins has asked provost Tom Sudkamp and chief financial officer Jeff Ulliman to develop a plan to find more savings by April 3, according to the email.
“After reviewing anticipated enrollment trends and the recent release of Governor (John) Kasich’s biennial budget in regard to higher education, it is very clear that we must take further action now,” Hopkins said. “I appreciate everyone’s continued cooperation as we address the urgent need to balance our base budget and restore our unrestricted reserves.”
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