Syracuse University finished the 2020 fiscal year in July with a $5 million deficit, Chancellor Kent Syverud said at a virtual University Senate meeting Wednesday. The deficit accounts for just a small portion of the university’s operating budget, and managing the shortfall will be feasible, Syverud said. Spring budget reductions — which included lowering administrator salaries and implementing a hiring freeze — gave SU the room it needed to make coronavirus-related adjustments, he said. “Unlike many of our peers, we had solid financial footing and plans to deal with this and so we are going to come out stronger from it,” Syverud said.
http://dailyorange.com/2020/09/su-finishes-fiscal-year-5-million-deficit-lower-enrollment-rate/
