Via KATV
Conway – The University of Central Arkansas announced Thursday that it will be making significant budget cuts in the coming months to offset a budget deficit.
Speaking at a budget forum, UCA interim president Tom Courtway told the crowd the school will suffer from a cash flow deficit by the end of this year.
The university plans to implement, among other things, a salary freeze and cutbacks in travel and advertising, in order to erase the debt.
(Tom Courtway, Interim UCA President) “I don’t believe–quite candidly–that we’re going to wipe it out in six months. I think that’s an unrealistic expectation. But I do think over time we will eliminate it.”
Courtway says the university will draw on its $6 million credit line to finish out this year. He does not expect any layoffs.
Whatever your outlook on the economy, it is more likely that UCA’s budget problems are due mostly to the high-profile advertising campaigns and expansion efforts that the university has finance over the past five years.