Luther utilizes reserve fund through deficit - Linh Do, Luther Chips

Luther has a board-designated operating reserve, which saves and accumulates money over time. In years like the 2018-19 academic year where the college has been running a deficit, the reserve fund helps the college cover necessary expenses. Dipping into this reserve also means that some expenditures, like faculty raises, are not possible. According to Vice President for Finance and Administration Eric Runestad, Luther utilized the reserve this past academic year. The total amount will be calculated once the official academic year is over in May. https://www.lutherchips.com/7131/news/luther-utilizes-reserve-fund-through-deficit/