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

Credit: DaytonDailyNews

Business
By Max Filby
March 31, 2017
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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

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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.

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About the Author

Max Filby