ITHACA, NY (607NewsNow) — During a State of the College meeting on October 20th, IC administrators announced that the budget deficit for the upcoming fiscal year has doubled in size from its original projection.
According the The Ithacan, Associate Vice President for Business and Finance and Interim Chief Financial Officer Marc Israel said the school missed the target number for enrollment for the 2026 fall semester by more than 100 students. The article also states, “To mitigate the drastic jump in the deficit, the administration is looking to cut down on non-salary operating expenses and reduce retirement contributions for employees. Cornish said those efforts will reduce the deficit by $2 million.”
Vice President for Enrollment Management said at the meeting that the college is taking action to increase their rate of enrollment, including moving application deadlines on select scholarships and offering admissions earlier than they have in the past.
The announcement of the doubled budget deficit comes shortly after the proposal of a college restructuring plan, looking to consolidate their five schools into three.
Read more about the school’s 2027 fiscal year budget deficit in The Ithacan’s article here.
