A Drop in Enrollments Puts Fort Valley State University in a Financial Bind
Filed in HBCUs on September 30, 2012
A drop in enrollments of 400 students and a 5 percent reduction in state appropriations has put Fort Valley State University in a financial bind. University President Larry E. Rivers announced that the deficit for fiscal year 2013 could reach as high as $5.2 million. But President Rivers believes that the deficit will be lower as he expects higher enrollments for the spring semester.
As a result of the projected deficit, the university announced that it needs to make $3.8 million in budget cuts. President Rivers asked all executive departments at the university to reduce their budgets by 10 percent and called for other departments to submit suggestions for further cuts. In a meeting with faculty and staff, Rivers stated, “You know where the areas are that can be cut. You can help make sure these budget reductions will not adversely affect the university’s commitment to its mission.”
After the administration’s received suggestions, it submitted a new budget proposal to the board of regents that includes layoffs and cuts to some programs. The layoffs are not expected to impact faculty or full-time employees and academic programs reportedly are being spared the budgetary axe.