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Post by The Cats on May 18, 2020 15:30:28 GMT -5
Furman to cut baseball & men’s lacrosse In an effort to address the unprecedented financial impact of the COVID-19 pandemic, Furman University on Monday announced that it would cut the salaries of the president and senior administrators, implement furloughs and budget reductions, and discontinue the baseball and men’s lacrosse programs. www.thestate.com/sports/college/article242819861.html |
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Post by The Cats on May 18, 2020 20:23:54 GMT -5
With the Furman Board of Trustees' unanimous endorsement, the university also announced these additional measures Monday:
A voluntary 20% salary reduction for the president and a voluntary 10% salary reduction for the vice presidents, athletics director, head coaches for football and men's basketball, and other more highly compensated employees.
A 5.5% reduction in operating budgets for the next fiscal year.
A reduction of 2.5 percentage points in Furman's contribution to employee retirement plans.
Summer furloughs for employees with diminished workloads, and two weeks of furloughs (or equivalent) for all other employees to be taken during the next fiscal year. Furman's human resources office will assist furloughed employees, who will retain their health benefits, with applying for unemployment and other assistance.
Discontinuing the baseball and men's lacrosse programs immediately, and reducing the total number of athletics scholarships by 45 over the next five years, with the reductions spread across multiple sports.
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Post by The Cats on May 19, 2020 11:00:30 GMT -5
In the latest Forbes Study of the financial condition of 900+ private colleges "Using the most recent data available from the government’s National Center for Education Statistics database, Forbes analyzed all private not-for-profit colleges in the U.S. with enrollments greater than 500, grading them on balance sheet strength and operational soundness, plus certain other indicators of a college’s financial condition, including admission yield, percentage of freshmen receiving institutional grants and instruction expenses per student." www.forbes.com/sites/schifrin/2019/11/27/dawn-of-the-dead-for-hundreds-of-the-nations-private-colleges-its-merge-or-perish/#6babf643770d Furman & Wofford came out with "A-" grades, Mercer was given a "C" Samford a "C-" If Furman had to make these changes with an A- financial health condition, Mercer & Samford may be in trouble as well...... |
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