St. Norbert College credits ‘difficult financial decisions’ for erasure of budget deficit

PHOTO: Courtesy of SNC

DE PERE, WI (WTAQ-WLUK) — St. Norbert College says they’ve balanced their books.

In a video message Thursday to the campus community, President Laurie Joyner said SNC closed last fiscal year in the green, and the university believes that will be case in the next fiscal year, as well.

“We closed last fiscal year with positive operating results and strengthened our financial position. With significant cost-saving efforts, program streamlining, and an institution-wide focus on efficiencies, we anticipate breaking even this fiscal year (FY26) as well — despite predicted enrollment declines,” Joyner said.

It’s been a years-long process for St. Norbert College, which has faced significant budget battles as of late.

During the past two years, we have invested in mission integration and other strategic priorities across the College, even as we had to make difficult financial decisions. These actions were necessary to ensure the College remains missiondriven, academically excellent, and financially stable. We can all be proud of how the SNC community has helped propel us forward.

This positive report marks the continuation of our remarkable progress during the past two years. After actual operating losses of approximately $4 million in FY22, $8 million in FY23, and a projected operating loss of nearly $6 million in FY24, we balanced the FY24 budget, achieved positive operating results in FY25, and anticipate a balanced FY26 budget.

Some of the “difficult financial decisions” Joyner alluded to included dozens of layoffs and the elimination of academic programs.