In an email sent to Bradley faculty and staff on Tuesday, University President Joanne Glasser announced that the campus community could expect significant budget cuts during the upcoming school year.
According to Glasser, the need for these cuts may be largely attributed to the smaller than anticipated incoming freshman class. In early May, 970 freshmen had paid their deposits for Fall 2014 enrollment – 110 fewer than expected.
The size of the class causes more than a $2 million negative financial effect on current operating margins. To compensate for this, Glasser stated that the university will look to cut costs in several key areas.
The main cut will be a general strategic reduction in cost structure approaching five percent, which yields an amount more than $5 million. Other operations, including dining, housing and intercollegiate athletics, will reduce expenses by $1.8 million.
In her email, Glasser stated that the small freshman class may indicate a new enrollment baseline, which necessitates financial changes and solutions to operating issues.
To address these issues, Glasser established three “Presidential advisory groups” to evaluate current procedures and advise her in their areas of expertise.
These three advisory groups include finances and budget group; program review and delivery group; and enrollment management, branding and marketing group. Glasser stated these groups are to begin their work immediately.
For more information, visit bradleyscout.com this summer, or check our first issue on Sept. 5.
