OSHKOSH, WI (WTAQ-WLUK) – Even after cutting its budget deficit by $15 million over the course of the academic year, the University of Wisconsin-Oshkosh still ground to gain.
A financial audit from a third party shows the existing trajectory of their budget deficit could have put “the future of the institution at risk.”
“We took immediate and decisive action which has changed the trajectory of where we are today,” UW-Oshkosh Chancellor Andrew Leavitt said.
Leavitt said steps have already been taken to fit the university’s needs amongst declining enrollment.
“Layoffs, voluntarily retirements, furloughs and vacancy savings and a hiring freeze immediately,” Leavitt said. “We were able to reduce the $18 million deficit to $3 million.”
That primarily includes a workforce reduction of 17%. By comparison, the audit showed the projected deficit in several years if the university did nothing.
“$88 million, through the actions we’ve already taken, we’ve reduced that to $16 million,” Leavitt said. “So we still have a little work to do, and what’s been accounted in this is the money that we’ll save through the academic restructuring.”
On Wednesday, university staff shared more about the current and future state of UW-Oshkosh with students, while also addressing their concerns.
“You said something about the university is working to increase retention from freshman, sophomores. What exactly, what is an example?” one student asked.
“Engagement — any time you can join a club, be a part of OSG, be a part of a church group, be a part of intramurals, anything you can do that connects you to the institution out of the classroom,” Leavitt said.
“It’s disheartening to me as a student, and I think to a lot of other students, to see that the majority of the budget situations that we’re handling right now, are just now happening — when it’s something that could’ve prevented when this first started four plus years ago,” another student said.
“I’ve cut $16 million out of this budget before COVID ever happened,” Leavitt said. “We have reduced the payroll, we have reduced the number of positions on campus. The rate at which the change started to happen after COVID is just really something we couldn’t control.”
With the restructuring plan, UWO projects to be out of its deficit by the end of the 2025 fiscal year.
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