At his state of the university speech Wednesday, University of Missouri-St. Louis Chancellor Tom George acknowledged that his institution has traveled a difficult road the last few years. But despite challenges for the University of Missouri System and its St. Louis campus, George said, UMSL is “alive and well.”
After weathering a deficit of $19.3 million last budget year, including the difficult decisions to eliminate 85 positions and lay off 50 employees, UMSL ended fiscal 2017 with a $2.2 million surplus. All of it went to give faculty and staff their first substantial raises in years.
Now, in fiscal 2018, George says the university is on the path to a balanced budget.
A big part of that is the school’s Chief Financial Officer Rick Baniak who arrived on campus in May 2016 from Boeing.
School leaders hope Baniak’s entrepreneurial approach to managing the campus will similarly help them address the $13.5 million deficit they face this year.
Read more: St. Louis Post-Dispatch