S.C. State Cuts Jobs and Pay To Balance Its Budget

554b99600cb8f.imageSouth 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.