NORMAN, Okla. (AP) - The University of Oklahoma could see layoffs as it faces a $15 million operating loss for the coming fiscal year, according to the school’s incoming president.
Jim Gallogly told the Tulsa World on Thursday that he may have the university look at non-faculty staff for more efficiency when fixing the fiscal hole he’ll inherit after taking over as president July 1.
“I can’t tell you numbers or anything, but we have to at least make up $15 million,” he said.
The university’s Board of Regents has passed a preliminary budget, but Gallogly said he plans to revise it when he assumes the job.
“We will get efficient. This is mostly staff-related,” he said. “Faculty are the ones who teach the classes and bring the revenue in. I think that’s an important point. I’m talking about raises for faculty.”
Payroll is among the university’s largest expenses, according to financial documents. The school spent $547.4 million in compensation and benefits for fiscal 2017, up from the previous year’s $513.5 million.
Gallogly said he plans to keep tuition as is after years of increases to raise revenue.
“If we keep raising tuition … we take it a little more out of reach of various people,” he said. “I’m not prepared to give (students and parents) a big tuition surprise. I am prepared to say, ’We are going to hold the line and what they thought they were going to pay is what they’re going to pay.’”
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This story has been corrected to show that the university’s Board of Regents has passed a preliminary budget, not the Oklahoma State Regents for Higher Education.
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Information from: Tulsa World, http://www.tulsaworld.com
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