EAST STROUDSBURG, Pa. - East Stroudsburg University says they are proactively tackling a looming budget deficit.
According to the university, they will be about facing about a $5.8 million deficit next school year.
Kenneth Long, Vice-President of Finance said ESU’s revenue is driven by tuition rates, enrollment, and state funding, which he said has been dwindling over the years.
Long said ESU’s current budget is about $150 million and in the last 20 years, state funding went from making up about 75 percent of ESU's budget to just 20 percent.
“What we are dealing with is revenue increasing much lower than expenditures,” Long said.
Long said ESU is tackling the problem now and because of that, will likely avoid layoffs.
“We can do this...through attrition, restructuring and reorganizing,” Long said.
Senior administration at ESU said they have also agreed to cancel plans for a new $40 million library. Instead, they'll use those funds to upgrade several existing buildings.
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