{"id":49167,"date":"2017-11-20T15:34:12","date_gmt":"2017-11-20T20:34:12","guid":{"rendered":"http:\/\/webapp2.wright.edu\/web1\/newsroom\/?p=49167"},"modified":"2017-11-20T15:34:12","modified_gmt":"2017-11-20T20:34:12","slug":"ddn-story-wright-state-could-narrowly-avoid-fiscal-watch-if-6m-surplus-is-realized","status":"publish","type":"post","link":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/2017\/11\/20\/ddn-story-wright-state-could-narrowly-avoid-fiscal-watch-if-6m-surplus-is-realized\/","title":{"rendered":"DDN story: Wright State could narrowly avoid fiscal watch if $6M surplus is realized"},"content":{"rendered":"

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\"\"Wright State University has been edging toward state fiscal watch the last few years but may be able to narrowly avoid it if a budget plan in place continues as expected.<\/p>\n<\/div>\n

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The university\u2019s budget calls for around a $6 million surplus this year as the school attempts to rebuild its reserve fund that was drained from years of overspending. WSU slashed around $30.8 million from its fiscal year 2018 budget in June.<\/p>\n

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The financial health of public colleges is measured by something called a \u201cSenate Bill 6 score,\u201d after a piece of legislation passed in 1997. The law requires the Ohio Department of Higher education to rate schools on a scale of 0 to 5 every year.<\/p>\n<\/div>\n

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The formula takes into account measures such as each school\u2019s revenue, debt and reserves. If a school falls below 1.75 on this scale for two years, it lands on fiscal watch, putting it under tight state monitoring and requiring a state-approved plan to balance its books.<\/p>\n<\/div>\n

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Wright State projects its score will be a .8 this year, meaning one more year below a 1.75 would put the school on fiscal watch. But, WSU financial officials on Friday said that if the university saves $6 million this year as directed by its budget, then the school\u2019s next score would be slightly above a 1.75.<\/p>\n

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\u201cWe are basically operating at razor thin levels with no margin for errors going forward,\u201d said Sean Fitzpatrick, WSU trustee and chairman of the board\u2019s finance committee.<\/p>\n<\/div>\n

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Last year, Wright State had a Senate Bill 6 score of 2.1, down from 2.4 in 2015, according to state records.<\/p>\n<\/div>\n

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Central State University is the only four-year university that has been placed on state fiscal watch. The school was removed from fiscal watch in April after its Senate Bill 6 score increased from a 1 in 2014 to a 2.3 in 2015 and then a 2.8 in 2016.<\/p>\n

Read the entire story at daytondailynews.com<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Excerpt Wright State University has been edging toward state fiscal watch the last few years but may be able to narrowly avoid it if a budget plan in place continues as expected. The university\u2019s budget calls for around a $6 … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":21,"featured_media":49170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[730],"tags":[],"class_list":["post-49167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wright-state-in-the-news"],"_links":{"self":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/49167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/comments?post=49167"}],"version-history":[{"count":2,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/49167\/revisions"}],"predecessor-version":[{"id":49171,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/49167\/revisions\/49171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media\/49170"}],"wp:attachment":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media?parent=49167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/categories?post=49167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/tags?post=49167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}