According to University of Hawaii at Manoa officials, the states' flagship campus is facing an estimated $31 million deficit for the current 2015 fiscal year. Overspending began in 2012 when the campus had a $2.6 million deficit. This increased to $17 million in 2013 and $26 million in 2014, but these three years of deficits were covered by university reserves.
Robert Bley-Vroman, the Interim Chancellor at Manoa, stated, "Our goal is to fly level for this year, and during this year try to reconnoiter and figure out where we're going to go in the future. The university as a whole needs to fly level. I think we can do it. I think it will be tough, and we may see our bank balance decline even more for a while, but we can do it. I know that each individual dean is going to have (to) work on what is best for the dean's college. There are going to have to be some ways of tightening belts. I think we'll see different approaches. We'll probably see less new faculty hiring in the future, again, that will differ unit by unit, but I know that's one thing we're considering."
Source: Honolulu Star Advertiser, 10-8-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
