Monday, January 6, 2025

Brown and Other Elite Colleges Are Facing Financial Problems - GoLocalProv team

Brown University executives have notified the campus that cuts are coming. The provost's office wrote on its website that Brown has a $46 million budget hole this fiscal year. “Without changes to the way Brown operates, the structural deficit is expected to continue to deepen significantly,” according to a December 17 campus message from Francis J. Doyle III, the provost, and Sarah Latham, executive vice president for finance and administration. Though the current hole is only 3% of the school’s operating budget, “increases in the deficit over time are not sustainable," they say.  Brown expects the deficit to grow to $90 million in the following year.