Wittenberg faces year of budget cuts - Tom Stafford, Springfield News Sun

Ten years ago, Wittenberg University celebrated the success of its $75.5 million “Defining Moments” fundraising campaign. A persistent Great Recession later, it faces a painful time of redefining its brand of liberal arts while facing a $7 million budget gap in a shifting educational market. Laurie Joyner, who succeeded Mark Erickson July 1 as university president, said Wittenberg has about five years to address $4.5 million in delayed repairs to the campus and buildings; to restore $1.5 million in debt payments taken annually from the university’s endowment rather than its operating budget; and an excess $1 million in endowment diverted each year to operating expenses. In the university’s current configuration, “we’re not able to cover all our expenses,” she said. http://www.springfieldnewssun.com/news/news/local/wittenberg-faces-year-of-budget-cuts/nTKZ3/