Retirees Association

Board of Trustees Unaware of FInancial Problems Before May, 2016

The Dayton Daily News points to rosy financial picture presented to board of trustees

The Dayton Daily News published today (Sunday, April 2) an explanation of the Wright State financial situation, having studied 17 years of University financial data.

The main assertions in this article by Max Filby, DDN staff writer, are:

  • Board of Trustees chair Michael Bridges says they were unaware of true financial situation, until May or June of 2016, having been presented with rosy outlooks by the then chief financial officer.
  • Vice Chair Fecher admits mistakes were made.
  • From 2012 through 2015, Wright State University administrators presented budget documents to trustees that projected a "blossoming financial future."
  • At least three times in the fiscal year 2015 budget proposal, the university’s chief finance officer referred to the school’s finances as “strong.”
  • Overspending in since 2016 amounts to $120 million dollars.
  • 2016 overspending reported at $34.9 million