UW-Eau Claire’s chancellor announced the university is rebounding following a 12.1 million dollar hit to its budget. During a brown bag forum, students and staff were invited to have lunch and hear an update on the school’s financial status. Chancellor Jim Schmidt says the university has a plan to stay out of the red. It involves utilizing more than 3 million dollars in what’s essentially the university’s rainy day fund. Schmidt says it’s important for the university’s continued development.
Jim Schmidt: “The good news is when we enter next year we will be back in the black. In the short term we will have completely drained our tuition reserve fund in order to balance the red ink in this current year.”
In addition, university staff are forming teams focused on enhancing the student experience. The teams center on initiatives from facilities, finance, and student services to improving communications and marketing.