Senate also received an update from OU President Hugh Sherman regarding university finances. Sherman said the university is going to be making updates to the budget so the process is more transparent and collaborative. Right now, the administration is finishing up budget meetings for the fiscal year, or FY, 2022, and beginning work on FY23. Though the university is breaking even for FY22, they are anticipating a $35 to $38 million deficit for FY23, Sherman said.
