” Earlier this month, Chancellor Eric Fingerhut announced that Ohio’s tax supported universities would be receiving a cut in their state money. The amount of $25 million will be cut from all tax supported colleges and universities in the state of Ohio. Out of this amount, the University of Akron will be losing $342,500 out of its budget for the 2009-2010 school year.”
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Earlier this month, Chancellor Eric Fingerhut announced that Ohio’s tax supported universities would be receiving a cut in their state money.
The amount of $25 million will be cut from all tax supported colleges and universities in the state of Ohio. Out of this amount, the University of Akron will be losing $342,500 out of its budget for the 2009-2010 school year.
While the school will have less money, vice-president of finance John Case said that students should not feel the impact of the cut.
This is a very small amount based on the university’s total current operating budget of $335 million, Case said. These cuts from the state budget were directed at specific programs so those programs will reduce spending accordingly.
The cuts come in hopes of closing the $640 million budget gap. However, more cuts could come at a later date.
We are currently utilizing a task force to review potential areas of efficiencies at the university, Case said regarding what UA is doing to prepare. This process will continue as we start to review the fiscal year 2010 budget.
These are the first cuts that have affected higher education.
Gov. Ted Strickland, Chancellor Eric Fingerhut, and other state leaders increasingly recognize that UA and higher education play a critical role in supporting the state’s economy, Case said.
In a time of economic downturn, one of the most valuable things one can do is attend college. At the University of Akron, we are preparing students for the jobs of tomorrow – and many of those jobs have not yet been defined. A college degree remains one of the soundest investments you can make.
Call News Editor Allison Strouse at:
330-972-7362
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