Will HWS have to close?
Hobart and William Smith Colleges President Joyce P. Jacobsen outlines the steps they are taking to address significant budget questions heading into the 2020-21 academic year.
“Moving forward we anticipate a substantial FY2021 budget deficit directly related to the pandemic if we do not take steps to correct for it now,”
We anticipate a $10.5M budget deficit under the in-person instruction scenario, and the deficits rise substantially from that point based on the extent to which we must move to more remote learning.”
employees see a 7.7% pay reduction or four weeks of furlough and
Overall reduction of employer retirement contribution from 10% down to 5%