University President Thomas LeBlanc announced to employees late last week steps that will be taken as part of the second and final phase of financial mitigation, which will include reductions of non-recurring expenses and use of the University’s unrestricted assets. GW’s annual budget gap is currently projected to reach $160 million this year in addition to an estimated $45 million in lost revenues last fiscal year, which ended June 30. “Barring a significant change in the pandemic and its impact, we believe that these final steps will conclude our budget mitigation for this fiscal year,” LeBlanc said in an email, which was obtained by The Hatchet, to employees Thursday.
