Excerpt from the Dayton Daily News
Wright State University’s interim president saw the school’s recently-announced $10-million problem coming last June.
Last summer Curtis McCray, in the midst of serving a brief three-month stint as interim leader of the school, announced that Wright State’s financial problems were “a little deeper” than the $30.8 million trustees cut out of the school’s 2017 budget. Instead, McCray recommended trustees slash $40 million from Wright State’s budget.
A year later, the current university administration has found that McCray’s predictions have come true.
Wright State president Cheryl Schrader this week asked university departments to slash 66 percent of their remaining budgets for fiscal year 2018 — which ends June 30 — in a last-ditch effort to keep the school off of state fiscal watch. Around $6 million of the $10 million WSU is trying to cut within the next 11 weeks would be put in the college’s reserve fund. But chief business officer Walt Branson said that at this point such efforts are unlikely to raise enough money for the school’s reserves in time.
