ARCATA, CA. – A “looming financial crisis” – that’s how Humboldt State University President Lisa Rossbacher describes the school’s current fiscal outlook.
There are a combination of factors Rossbacher attributes to the problem – including insufficient state funding, economic downturn, increasing mandatory costs, and fluctuating enrollment.
A $7,000,000 deficit is estimated for the 2018-2019 school year, that is expected to grow to a $9,000,000 deficit by the next year.
Short and long term solutions are being considered to recalibrate, more details on those actions can be found here.
A formal budget is expected to be approved by March 29.