Provost Holloway alerts Faculty Senate about upcoming budget deficit - Gabby Birenbaum, Daily Northwestern

The University’s expenses are projected to outpace revenue in the coming fiscal year, Provost Jonathan Holloway informed Faculty Senate Wednesday. While Northwestern finished the 2017 fiscal year with a surplus — albeit its smallest in years — the University is on track to accumulate a deficit ranging between $50 million and $100 million this fiscal year, Holloway said. Considering NU’s operating budget of approximately $2 billion, he classified the deficit as an “annoyance” rather than a problem. “We’re in a moment of financial challenge, but we are not in crisis — not by a longshot,” Holloway said. “But, we have some work to do.” https://dailynorthwestern.com/2018/01/10/campus/provost-holloway-alerts-faculty-senate-upcoming-budget-deficit/