Baldwin Wallace considers budget cuts in response to projected deficit
Baldwin Wallace University is projecting it will face a deficit in the coming year and is considering potential budget cuts.
In the face of the budget challenges, the university is conducting a “holistic review of programs, staffing and expenses to achieve efficiencies,” along with town halls on the university’s financial outlook. That’s according to a statement from President Bob Helmer sent Friday, who added that the university has frozen all "non-essential" hiring. A voluntary early-retirement incentive plan is also being considered.
“We will need to simultaneously make cuts in some areas while investing in areas of growth,” Helmer said.
The school year did start with some good news for the private university based in Berea. It’s welcomed its largest first-year class since 2015, Helmer said. Spokesperson Shawn Salamone said total enrollment - 3,327 students - was also up 3% from last fall and about even with fall 2021.
Helmer struck a positive tone in the statement.
“BW is taking steps to build financial strength and long-term sustainability for the future by working to balance our budget, while maintaining the highest quality educational experience for our students,” he wrote. “A smart and focused budget will allow us to build on our recent success in enrollment and outcomes while we continue to meet the needs of our region.”
Salamone declined to state how large the deficit the college is facing is but said layoffs are not being considered currently,
“We are exploring all options for reaching a balanced operating budget,” Salamone said.