Ferrum College tightens fiscal belt in response to budget deficit - Casey Fabris, Roanoke Times

When Ferrum College President David Johns met with faculty and staff earlier this month to talk about the institution’s financial outlook, he tried to make one thing clear. “This is not a crisis,” he recalled telling the college’s employees. “This is an adjustment.” When college administrators presented a budget to the Board of Trustees in the spring, it included a $4.5 million deficit. The board tasked Johns and his team with revisiting the budget in the fall, after they had a better sense of enrollment figures, and bringing revenues and expenses into balance. https://www.universitybusiness.com/article/For-higher-ed-investing-oer-pays-eventual-dividends