University President Ronald J. Daniels reported on Oct. 15 that the University ended the FY20 fiscal year with a surplus of $75 million due to mitigation efforts. These efforts, which include salary and hiring freezes, will be kept in place until the end of the school year. Without austerity measures, the University had anticipated losses of $100 million from the FY20 fiscal year. Daniels added that the projected deficit for the current fiscal year has decreased from the $375 million predicted in April to $73 million. He explained that the deficit would have been twice as high if not for the University’s actions in early April.
https://www.jhunewsletter.com/article/2020/10/austerity-measures-will-be-kept-despite-budget-surplus
