Monday, April 25, 2016

BUDGET DEFICIT: Unexpected shortfall hits Utica College - Nicholas Souza, the Tangerine

President Todd S. Hutton issued an interoffice memorandum to Utica College staff, faculty and administration on April 4 explaining a recent deficit in the college’s budget. Due to unexpected operating and non-operating expenses, the college is facing a larger deficit than previously expected – jeopardizing their standing with the U.S. Department of Education’s requirement for financial health. The thing that makes this budget deficit different is that the deficit is larger than originally projected. The original projected operating deficit was around $900,000 but recent projections put the deficit at $1.2 million.

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