South Carolina State University is beginning its new fiscal year this morning with a budget balanced through some $19.1 million in cuts.
The university’s new board unanimously approved on Tuesday a $67.8 million budget based on an enrollment of 2,650 students.
Board Chairman Charlie Way said it was “absolutely imperative” that the board approve a balanced budget.
Way said he’s confident the university is “getting our arms” around its financial difficulties.
“We’re paying our bills, paying off vendors,” he said. “It’s a great day for South Carolina State.”
The new budget shows a savings of $6.1 million in salaries and wages, including cutting 20 teaching positions and 13 or 14 staff positions.
Another $200,664 will be saved through a 10 percent reduction in salary for retired teachers who continue to work at the university.