In an announcement to the University of Rochester community Wednesday, President Sarah C. Mangelsdorf and other campus leaders announced the university will freeze hiring and wage increases, give senior administrators a pay cut, and commence on a series of short-term job furloughs.
“We expect the next few weeks will allow us to continue to develop a clearer financial picture for the University, but we are confident that adoption of these measures now will help to keep our institution healthy, both in this time of financial crisis and into the future,” the announcement read. It was signed by Mangelsdorf, Provost Robert L. Clark, and Holly G. Crawford, the senior vice president for administration and finance.
The statement said the university has experienced unexpected increases in spending and unexpected declines in revenue due to COVID-19 pandemic. And with in-person educational instruction and normal revenue-generating medical procedures on hold indefinitely, UR cannot predict when its income might return to normal.
“As a university with an academic medical center, the global economic challenges caused by this pandemic have been particularly acute,” the statement said. Decreases in revenue include refunds in room and board when most students were sent home, and cancellation or postponement of non-emergency procedures at the University of Rochester Medical Center. Meanwhile the medical center has had to ramp up hospital capacity to accommodate anticipated COVID-19 patients, and launch more tele-medicine delivery and a network for distance learning.
Particular cost-cutting steps will include:
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