Tuesday, June 21, 2016

University of Akron approves an initial budget - Marilyn Miller, Beacon Journal

The University of Akron will have to dip into its reserve funds to get through the new fiscal year beginning July 1. The University of Akron Board of Trustees on Wednesday approved the general fund budget of $358 million through June 30, 2017. The budget will use $18 million from the university’s reserve funds because projected operating expenses are expected to exceed operating revenues. The reserve fund currently stands at $243 million. The budget has an emphasis on cost control but doesn’t include any faculty or staff layoffs, according to the trustees. http://www.ohio.com/news/education/university-of-akron-approves-an-initial-budget-1.690722

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