The president of Western Connecticut State University, John Clark, renounces in the midst of a financial crisis that resulted in an exhaustion of 99 percent of university reserves in recent years.
Clark, who has been president since 2015, officially left on July 14. His resignation follows a vote without confidence regarding financial management issues by him by the union of the Faculty in May. Earlier this year, a scathing external report found that the university "has an expense control problem, not an income problem."
The report, commissioned by the System of State Colleges and Universities in Connecticut, found a financial financing litany for false pressures and no coherent strategy to achieve financial viability. He recommended a series of changes, including observation of current personnel levels. However, the members of the Faculty say that the report ignores the obvious problems, including years of funds from the state government in Declive, which has left public higher education institutions to hurry to survive.
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The report made by the National Center for Higher Education Management Systems, an educational consulting agency, shows an impressive fall in the WCSU reservations in the last decade. It paints an image of a university that could not address financial problems, since its reserves decreased from $ 24 million in fiscal year 2012 to be "almost eliminated" in fiscal year 2021.
a spokesman for the CSCU system did not have a current figure for Western Connecticut reserves.
“Western Connecticut State University is an institution in serious financial difficulty. It has a structural deficit that has caused the university to immerse itself in its reserves almost every year during the last decade, ”says the NHEMS report. “This practice of trusting reserves to balance the operating budget for a prolonged period has led to the current situation in which reserves have completely exhausted. The university now has no choice but to address the underlying factors that have led to this condition: operating within the restrictions of a balanced budget is now an imperative. "googetag.cmd.push (function () Googetag.display (" dfp-ad-article_in_article "););););););););););););););););
The report, delivered in January, points out that of the four state universities in the system of state colleges and universities in Connecticut, only Western Connecticut saw a complete collapse of their reserves. Two other state universities saw a growth in reserves since the end of the great recession, while the Central University of Connecticut saw its reserves decrease by approximately one third.
Citing interviews with officials, NHEMS described the administration approach to the administration for the financial crisis as "we have not had a balanced budget for years; why start now?"
The levels of high and growing expenses led to the exhaustion of WCSU reserves, with most staff -related costs, the decrease in registration and pandemic of the Coronavirus, according to NChems, which indicated that WCSU's problems were caused by sub-financing but to spend too much. DAMAGES
“The biggest problem It is that the state of Connecticut has reduced our budget repeatedly. State financing for public universities has been decreasing, and Connecticut is not unique
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