ECU announces new initiative to offset financial loss
The new committee will make recommendations to increase revenue and cut costs
GREENVILLE, N.C. (WITN) - ECU introduced a Fiscal Sustainability Coordinating Committee Wednesday to cut costs and increase revenue for the school.
The committee will start up as the COVID-19 pandemic has worsened the school’s existing financial struggles.
“What we’ve experienced really since 2008 is just a mounting pressure, budgetary and financial pressure on our university,” explained ECU’s interim chancellor, Ron Mitchelson.
They have called for short-term relief with recent furloughs, and he says they plan to announce more soon.
Looking forward, the committee will be head by Michael Van Scott, the interim vice chancellor for research, economic development, and engagement at ECU.
“This is about how do we really maintain a high-quality institution with all of the challenges in our environment today,” explained Van Scott.
They have introduced similar initiatives in the past, one for 2011-2012 and another for 2013-2014. Those included recommendations to reduce or consolidate staff, college programs, and specific lectures.
The school says they may make similar recommendations this time around, but they hope to focus on reallocating resources rather than cutting them. They also plan on growing other successful programs.
The committee will bring recommendations to the chancellor by June 30th, 2021.
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