University finances in improved state

Fiscal year figures 10 million better than expected

Wright State University’s finances look better than projected, but the school has already fell behind its goal of boosting reserves in the upcoming year despite more than $30 million in cuts.

Wright State ended fiscal year 2017 with about $41 million in reserves when administrators projected the total would only be $31 million. The unexpected increase is mostly due to austerity measures that included eliminating overnight travel and catering, among other things.

The school’s board of trustees were told Tuesday the school has already started to fall behind on its goal of boosting reserves by another $6 million in fiscal year 2018. Just two years ago, Wright State maintained reserves close to $100 million.

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