BUFFALO, N.Y. (WIVB) – Beginning in September, Medaille College will move its Amherst campus to Buffalo.
A spokesman tells News 4 that during this period, there will be a hiring freeze as well as a freeze on discretionary spending. The college will also stop matching retirement funds and there will be layoffs. However, the spokesman says it’s too early to tell how many employees will be cut.
These decisions were announced during Medaille’s annual Financial State of the College meeting on Tuesday. Prior to the meeting, the college’s president, Richard Jurasek, released an ominous letter saying it “will not be an ordinary report for these are not ordinary times” and describing this as a “watershed moment.”
The letter went on to say the college ran a $2.2 million deficit in 2012-2013 and is looking at an even greater deficit in 2013-2014. Jurasek says Medaille isn’t the only local school facing financial turmoil.
“We’ve been experiencing the same kind of financial stress that all of higher education in Western New York has been experiencing,” he said.
The college has around 2,300 students – less than a third of them are in graduate programs on the Amherst campus. Enrollment is down, and Jurasek says it isn’t just at his college.
He explained, “There has been, in the last four years in Western New York, a 15 percent reduction across all of higher education in enrolled, undergraduate students.”
Jurasek expects all of the changes being made at Medaille to reduce the deficit by one million dollars by the end of the current fiscal year.