Page 22 - PowerPoint Presentation

Table 2: Specific Dollar Reductions

SUNO Financial Strategy Specific Dollar Reductions Rationale/Explanation
Renaissance With expenses for athletics averaging $1M

Suspension of Athletics Programs $750,000 over the last several years and revenue
averaging $225K, the model was not
sustainable.
 Cost Containment A furlough was effective 8/2019 which

 Suspension of Athletics impacted senior administrators and staff.
 Furloughs Furloughs $134,363 This enabled the University to bring the
current year budget and balance.
 Freezing/Elimination
(positions) Administrative and support staff positions
 Early Retirements were either unfilled or eliminated. A few

 Faculty Overload (No Pay) positions were re-allocated to other funding
sources and re-instated if a critical need of
 Budgetary Controls Freezing/Elimination of positions $892,161 the University (i.e. Social Work). This
 SUNO Foundation enabled the University to bring the current
(Scholarships) year budget and balance.
 Reallocation of
transactions to the Six employees took advantage of early
appropriate fund(s) retirement opportunities. This enabled the

 Leveraging the financial Early Retirements $199,346 University to bring the current year budget

system (Banner) to and balance and also provides a pool of
control spending revenue for future investments.
All full-time faculty agreed to teach one
Faculty Mandatory overload overload class at no cost. This enabled the
$222,589 University to bring the current year budget
and balance.

Southern University
at New Orleans