institutionalfinance

Chestnut Hill Kills Raises, Cuts Some Salaries

Chestnut Hill College, in Pennsylvania, is dealing with a deficit by canceling all raises for the 2016-17 academic year, The Philadelphia Inquirer reported. The frozen salaries apply to faculty and staff members. In addition, 17 non-faculty employees have agreed to salary cuts or reductions in hours. With those changes, no layoffs are planned.

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HBCUs cut from North Carolina $500 tuition bill

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North Carolina legislation would have cut tuition dramatically, and many at the institutions feared they would lose revenue. Two universities still are covered by bill.

Kean U Violated State Rules Buying Expensive Table

New Jersey's comptroller's office has issued a report finding that Kean University violated state rules when it purchased a $219,000 Chinese-made conference room table without competitive bidding or state approval, NorthJersey.com reported. In fact, the comptroller's office found that the university spent even more money -- $250,000 -- than had been previously reported. The university released a statement criticizing the report and saying that Kean had “acted legally and with transparency throughout the process.”

Saint Xavier Will Close Its Arizona Campus

Saint Xavier University, which is based in Illinois, announced that it will close its campus in Arizona less than a year after it opened, The Arizona Republic reported. Gilbert, Ariz., spent millions of dollars to bring in Saint Xavier, which could face penalties for pulling out of a 15-year lease on a facility in the city. A Saint Xavier spokeswoman said the university made the decision because of continued uncertainty over the state budget in Illinois. Like many private colleges in the state, Saint Xavier and its students depend on a state financial aid program that assists students at private colleges.

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Another Small Private Closes Its Doors: Dowling College

Dowling College on Tuesday joined the ranks of small independent institutions that could not overcome economic downturns, demographic changes, and some questionable management. The private college on Long Island announced its immediate closure after a last-ditch effort to form an alliance with another college apparently failed.

The institution has had 7 leaders in 12 years, and its enrollment had fallen by more than half (to about 2,000) since 2009.

“As painful as this announcement is, we want the student body, faculty and alumni to know that we made every effort to form a suitable academic affiliation so that we could keep the college open,” President Albert Inserra said in a written statement.

Summer classes were supposed to start this week, but a stark announcement on Dowling's home page said that the summer sessions had been canceled.

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Critique of Performance-Based Funding

The Century Foundation on Wednesday published a report that is critical of state policies that link funding of public colleges with measures of their performance, such as graduation rates and degree production numbers. Roughly 35 states are either developing or using some form of performance-based funding for higher education.

The new report's author, Nicholas Hillman, an assistant professor of education at the University of Wisconsin at Madison who has studied such state-based formulas, argues that performance-based funding is rarely effective.

"While pay for performance is a compelling concept in theory, it has consistently failed to bear fruit in actual implementation, whether in the higher education context or in other public services," Hillman wrote. "Performance-based funding regimes are most likely to work in noncomplex situations where performance is easily measured, tasks are simple and routine, goals are unambiguous, employees have direct control over the production process, and there are not multiple people involved in producing the outcome."

Kansas cuts criticized for hurting large research universities

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State has changed its formula to impose deepest reductions on universities that receive more outside support.

Burlington College Will Shut Down

Burlington College announced Monday that it is shutting down its operations, The Burlington Free Press reported. Operations will end May 27. The college has been told that its primary lender will not extend a line of credit and that the college’s accreditor, which placed the college on probation, was not expected to lift the probation. Burlington is a small college focused on the liberal arts and progressive styles of education. Coralee Holm, dean of operations, told the newspaper that the college could not recover from the “crushing weight of the debt” incurred after the college in 2010 purchased 32 acres of lakefront property from the Archdiocese of Burlington.

Some supporters of the college blamed the inability to pay for that purchase on Jane Sanders, president at the time. She resigned in 2011 and has been in the news more recently as the wife of Senator Bernie Sanders, who is running for the Democratic presidential nomination. Sanders declined to comment to Inside Higher Ed for a 2014 article on the college’s sinking finances, but told Vermont publications that she left the college with a plan to pay off the debt through increased enrollment. Those increases did not materialize.

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Andover Newton Will Partner With Yale Divinity

Andover Newton Theological School, the oldest theological school and graduate institution in the United States, announced last week that it will form a partnership with the Yale University Divinity School. Andover Newton, located outside of Boston, has faced financial challenges, and many theological schools have struggled to make their programs affordable. Andover Newton will continue to provide some instruction in Massachusetts but will start the process of relocating to Yale's New Haven, Conn., home while finishing negotiations on plans to become part of the divinity school there, as a unit to be called Andover Newton at Yale. Officials said the combination would help both institutions offer more aid to students with financial need.

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To address physician shortage, medical schools expand to rural areas

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Over the next nine years, the country will be short as many as 95,000 doctors. To attract them to underserved areas, medical schools are forming regional partnerships.

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