September 01, 2018

College Addressing Deficit

As our previous edition went to press last spring, the college was facing a budget deficit of about $3 million for the 2018-19 fiscal year (July 2018-June 2019).

On May 1, the national enrollment deadline, it became clear that the class of 2022 would number about 260 students, around 100 fewer than expected, while retention of current students also dipped. These two developments, combined with soaring employee health care costs and increased need for financial aid, added substantially to the deficit.

Over the summer, four teams composed of trustees, faculty, and staff convened with intensity to rightsize the budget from $49 million to $42 million and realign resources and priorities to strengthen the college’s financial position over the next three years. As we were completing this edition of the magazine, plans for a leaner, more mission- and student-centric Beloit College were beginning to emerge.

In his “From the President” column, President Bierman offers perspective on the situation.


Also In This Issue

From left: Lu “Emily” Liu’18, from China, Linh Ahn Le’20, from Vietnam, and Hian Yong Yeo’17 from Singapore founded the Beloit International Student Career Services club.

A Network of Global Beloiters

more
Dexter Kopas’18 and Hanlin Zhang’20 descend Mt. Song in Henan Province.

Exploring Landscapes and Rivers in Transition

more

Thoughts on the Beloit Plan

more

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