With fewer enrolling, colleges seek bailout
$69 million requested from state for pandemic losses
With fewer students enrolling and employee unions unwilling to make significant concessions, the Connecticut State Colleges and Universities system is asking Gov. Ned Lamont for a $69 million bailout.
In a letter to Lamont, CSCU President Mark Ojakian said the system of four universities and a dozen colleges must either raid budget reserves to “dangerous levels” or get a bailout from the state.
“Our budgets are strained to dangerous levels, putting the financial health of
CSCUin critical condition. The community colleges in particular are facing reserves near zero,” Ojakian wrote in his request for the $69 million in help. “I respectfully request that you support an appropriation in that amount to address our budget crisis … We desperately need help in building a bridge to take us beyond this troubled year.”
The state’s separate public university system, the University of Connecticut, is also facing massive deficits. All together, UConn and CSCU are asking for $173 million in additional support for this fiscal year which ends in June 30.
The administration was not immediately able to say Monday whether help is on the way for the state’s public colleges and universities. Lamont last week recommended clearing $1.8 billion of the state’s anticipated $2 billion deficit by tapping the state’s rainy day fund.
Lamont spokesman Max Reiss said the administration “will continue to engage with all state agencies and institutions regarding their financial situations as a result of this pandemic.”
Federal funding sent to governors through the CARES Act to help governor’s cope with the pandemic impact is almost gone, too. Lamont’s budget chief Melissa McCaw last week told reporters that the administration has spent just over 90% of that federal funding.
The four regional Connecticut State Universities seem to be facing the largest deficit — a $52.5 million shortfall. However, that system would still be left with a reserve