WSU budgets portrayed finances as ‘strong’ while school lost millions

Credit: DaytonDailyNews

Business
By Max Filby
March 31, 2017
X

From 2012 through 2015, Wright State University administrators presented budget documents to trustees that projected a blossoming financial future.

At least three times in the fiscal year 2015 budget proposal, the university’s chief finance officer referred to the school’s finances as “strong.”

Curtis L. McCray, interim president for Wright State University, said he is prepared make major cuts in programs to help the institution overcome financial issues. He replaced David Hopkins, and will serve until June 30, when new president Cheryl B. Schrader transitions to her new role on July 1. CHUCK HAMLIN / STAFF

icon to expand image

But a Dayton Daily News examination of financial data from the university found that it was losing millions of dollars a year even while pitching rosy forecasts to board members.

ExploreRELATED: WSU interim president says golf team may go, school needs a ‘Dr. No’

Two of those board members now acknowledge they were unaware of how much red ink was being hemorrhaged by the university.

Read the Dayton Daily News investigation HERE.

In Other News
1
Miamisburg coffee shop will close next month
2
10 years of The Windamere in Middletown: Couple’s journey led them to...
3
Local inventor markets latest product’s ‘huge potential’ on QVC, Amazon
4
WOMEN IN BUSINESS: Belinda Kenley, vice president-client relations at...
5
XO Fitness & Wellness launching first U.S. location in Dayton area

About the Author

Max Filby