Reply to Which top colleges have a significant budget deficit? Which ones are red flags?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Isn't Barnard facing major financial issues too?[/quote]

I recently read they are being enveloped completely by Columbia. [/quote]

No, Columbia has not yet absorbed Barnard's projected $250-ish million in debt.

https://www.columbiaspectator.com/news/2024/12/03/with-252-million-in-projected-debt-barnard-makes-cuts-to-faculty-and-staff-benefits/

Based on available reports from late 2024, Barnard College is facing a significant, projected $252 million in debt and recurring deficits. Barnard is addressing this through internal budget cuts and reduced contributions to faculty/staff benefits. Columbia University has not officially absorbed this debt; Barnard is managing its own financial recovery plan.

Key details:
The Debt: Barnard’s projected debt stems from fiscal pressures as of fiscal year 2025, with previous annual operating deficits exceeding $20 million in FY23 and FY24.

Response: Rather than a bailout from Columbia, Barnard President Laura Rosenbury initiated a "reimagining" of financial operations to improve performance.

Relationship: While they are affiliated, Barnard is legally and financially separate from Columbia University and is responsible for its own budget.

Operational Costs: Historically, the two institutions pay each other for imbalances in cross-registration, a separate issue from managing total budgetary debt.

(Source: The Columbia Chronicle)
[/quote]

PP. apologies, I think the headline I read may have been April 1 joke. [/quote]

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