U. of Akron trustees approve balanced budget for 2014-15

Stefanie Botelho's picture

UA trustees agreed Wednesday to plug an $18.9 million shortfall for the coming fiscal year, which begins July 1, with additional state funding and higher tuition and fees for a declining number of students.

The university also will continue to curtail expenses by trimming staff positions, forgoing strategic investments and realizing long-term savings on a large-scale energy efficiency project.

Chief Financial Officer David Cummins said the $367 million operating budget — 0.7 percent larger than the current year’s revenues and expenses — “could have been worse, quite frankly.”

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