Departments slash budgets to make up for $20 million deficit - Mary Ellen McIntire and Colleen Murphy, GW Hatchet

Provost Steven Lerman said GW took money from the University's reserve funds to make up for a $20 million deficit it ran last year. The University will slow new staff hiring to help make up for part of the deficit. The University is cutting back. Officials looking to hire department staffers will be delayed three months, said Joseph Cordes, who leads the Faculty Senate's finance committee. GW has also cut back on new faculty hires, travel expenses and consulting fees to make up for a $20 million budget shortfall. GW had to dip into its reserves after programs needed an extra $10 million to cover surprise costs, and a graduate enrollment slump caused schools to miss out on $10 million in projected tuition revenue. “The University is currently engaging in some belt-tightening, which translates into cuts in the budgets of the schools,” Cordes said. “Delay in hiring replacements is one common way of holding budgetary expenses in line.” http://www.gwhatchet.com/2014/10/13/departments-slash-budgets-to-make-up-for-20-million-deficit/