The University of Oklahoma could see layoffs, as it faces an operating loss of $ 15 million for the next fiscal year, according to the incoming president of the school.
Jim Gallogly told Tulsa World on Thursday he could have a college look at non-teaching staff to achieve greater efficiency by fixing the fiscal hole he will inherit after taking office on July 1.
"I can not tell you numbers or anything, but at least we have to compensate $ 15 million," he said.
The Board of Regents of the university approved a preliminary budget, but Gallogly said he plans to review it when he takes office.
"We will become efficient, this is mainly related to the staff," he said. "The teachers are the ones who teach the classes and provide the income, I think that's an important point, I'm talking about increases for teachers."
The payroll is one of the largest expenses of the university, according to financial documents. The school spent $ 547.4 million in compensation and benefits for the 2017 fiscal year, compared to $ 513.5 million for the previous year.
Gallogly said he plans to keep enrollment as it is after years of revenue-raising increases.
"If we continue to increase enrollment … we take it a little further out of reach of several people," he said. "I'm not prepared to give (students and parents) a big surprise in tuition, I'm willing to say, 'We're going to keep the line and what they thought they were going to pay is what they're going to pay.'"
___
This story has been corrected to show that the Board of Regents of the University has approved a preliminary, not the Oklahoma State Regents for Higher Education budget.
Be First to Comment