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Openness and Transparency in Owens Budget Process and Financial Condition

Seems like nearly every day some state, city or school district is making news headlines with their budget deficits, the disparity between their revenues and expenses and the drastic cuts they will need to make to balance their budgets.

While the State of Ohio is not on the list of states expected to go bankrupt, we are being advised by the folks at the Ohio Board of Regents to expect a 15 ñ 20% cut in State Share of Instruction for FY12. This translates into a $7 – $7.6 million dollar loss in revenue or 7% of Owens General Fund revenue. Since it would require a 15.5 ñ 17% increase to make up this difference, it is highly improbable that a tuition increase alone will used to make up this shortfall. Fortunately, we have been braced for this message for the past year and have four to five months and multiple possible solutions to balance the FY12 budget while preserving a reasonable tuition rate and protecting our employees.

So, with all that being said, do you feel there is enough openness and transparency in Owens budget process and financial condition? And if not, what could we do to improve?

One Response to “Openness and Transparency in Owens Budget Process and Financial Condition”

  1. rose_kuceyeski Says:

    How about “openness and transparency” and in college processes?

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