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MONTGOMERY, Ala. (AP) — Alabama State University officials say the school now has a workable budget that doesn't include layoffs or cuts to employee pay.
The Montgomery Advertiser reports (http://on.mgmadv.com/1r97U5n ) Vice President of Finance Wanda Smith updated the board Friday on the school's financial situation. The university has been facing a budget crunch for much of the past year, needing to cut some $24 million from its annual budget.
While the news was positive, Smith did warn a further dip in enrollment or other unforeseen expenses could threaten that stability. If that should happen, Smith said the board might consider furloughs or implementing a voluntary employee separation agreement with each option saving the university more than $1 million.
Board Chairman Locy Baker stressed those were just precautionary and expressed confidence enrollment will rise.
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Information from: Montgomery Advertiser, http://www.montgomeryadvertiser.com
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