‘No rabbits in this hat’ - Matt McKinney, Knox Student

Low faculty salaries, rising tuition and $3 million deficit among problems Knox will begin the year with a $3 million budget deficit, according to data released this week by the college. President Teresa Amott and Treasurer Tom Axtell revealed the school’s dire financial straits Monday afternoon to a group of more than 70 faculty members. “When you already have a half-time athletic director, a one-person career development center and faculty salaries that are $6,000 to $7,000 below market value, it’s not clear to me where we cut, even when we cut sacrificially,” Amott said. Axtell called the current financial crisis “reminiscent” of the one two decades ago that nearly paralyzed the college. And even with a $2.7 million increase in tuition and fees — the college’s single largest revenue source that “supports everything” — Knox still faces an unbalanced budget. http://wordpress.theknoxstudent.com/blog/2012/10/02/no-rabbits-in-this-hat-amott-and-axtell-stumped-by-knoxs-financial-woes/