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Challenges Faced by Utah State University - Essay Example

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Summary

"Challenges Faced by Utah State University" paper contains the article review that is actually a speech made by Stan L. Albrecht, President of Utah State University (USU), towards his faculty members, students, and other university colleagues in an attempt to review the grave financial challenges. …

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Challenges Faced by Utah State University

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Subject: Finance & Accounting
Type: Essay
Level: Masters
Pages: 1 (250 words)
Downloads: 0

Extract of sample "Challenges Faced by Utah State University"

The University has faced severe financial problems owing to a decrease in the endowment earnings because it failed to attract the many institutions to get financial support and raise funds that have adversely affected the varsity’s ability to fund scholarships and other activities. USU, therefore, has undergone nearly $27.7 million (17%) budget cuts to streamline its revenues and corresponding expenditures. Also, it has lost 162 positions or personnel including 57- faculty, 47- professional staff and executives, and 58- classified staff members respectively.

USU is now eyeing the new fiscal year and is focusing to come up with effective strategies to reduce the expected “loss of $13 million in one-time stimulus monies that were used to backfill the majority of the $21 million cuts imposed on our university”.

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