Saying “Challenges and difficult choices are ahead, Central Michigan University on Tuesday announced financial impacts of the coronavirus.
CMU, like many universities, was already struggling with decreasing enrollment… the coronavirus complicates the financial picture.
In a written release, CMU president Bob Davies said college departments should plan for budget cuts of up to 20 percent. He has asked for a ‘hiring pause’... and did not rule out that, if the stay-at-home order is extended, staff pay and benefits may be affected.
Davies said the university is seeing significant revenue drops from cancelled events, camps and conferences. And he said it’s likely with state budgets also strained, CMU will see mid-year budget reductions as well as a cut in next year’s state funding.
Davies said although CMU does not yet know the full impact the virus will have on the financial future, CMU will be smaller in size.
He said although operations will change - quote - “our culture will not,” adding, “we will maintain our commitment...to being student centered in all we do.”
