By Kylie Lancaster\/\/<\/p>\n\n\n\n
The Middle States Commission on Higher Education\u2019s visiting team reported that Hood College did not meet the sixth standard of accreditation during the team’s report on Monday, April 1. <\/p>\n\n\n\n
The sixth standard, which reviewed the college\u2019s planning, resources, and institutional improvement, fell short due to the operating budget. <\/p>\n\n\n\n
Hood College officials are uncertain about what this failure means for the institution. <\/p>\n\n\n\n
\u201cWhat we know is the report out this visit team gave us, which is somewhat of an unofficial report,\u201d Hood College President Debbie Ricker said. \u201cThere are several steps in the process that have to take place before the Middle States will issue a formal action and that\u2019s not going to happen until June or July.\u201d <\/p>\n\n\n\n
The visiting team will present the results to the MSCHE report committee, and those results will go to the commission. The results found by the MSCHE visiting team may or may not change through this process. <\/p>\n\n\n\n
Hood College\u2019s senior team has met and a general notification about the failed standard was sent to the Board of Trustees. <\/p>\n\n\n\n
Institution officials have been monitoring the college\u2019s budget and financial situation. <\/p>\n\n\n\n
The Board of Trustees asked that Ricker present a balanced budget for fiscal year 2027 after about three years of deficits. As a result, Ricker presented two budget plans, one with approximately $3 millions of cuts and the other with an additional $2 millions of cuts. <\/p>\n\n\n\n
Hood College officials have already found areas to make these cuts from the budget. <\/p>\n\n\n\n
\u201cWe\u2019re looking at existing positions that are vacant right now and possibly freezing those like we did last year for a time being,\u201d Hood College vice president of finance, Robert Klinedinst, said. \u201cWe\u2019re looking at benefits, retirement contributions. We\u2019re looking at every division, at contracts and things that we pay other entities to do for us.\u201d <\/p>\n\n\n\n
The MSCHE visiting team did not evaluate these budget plans during their assessment; however, it is expected that these changes will fix the budget deficit. <\/p>\n\n\n\n
\u201cWe have had a number of unrestricted gifts to the college this year, which will give us a deficit-free year-end budget for sure,\u201d Ricker said. <\/p>\n\n\n\n
Hood College is not the first institution to face financial struggles. Many small, private, tuition-dependent institutions become financially vulnerable if enrollment drops and budget deficits widen. <\/p>\n\n\n\n
\u201cWe\u2019ve got a peer group of, you know, 20 plus other colleges and universities that are a lot like Hood that we monitor on a regular basis,\u201d Klinedinst said. \u201cAll of them, except for two or three, had deficits ranging from a few hundred thousand dollars up to about $16 million, so we\u2019re not alone.\u201d <\/p>\n\n\n\n
Institution officials are not concerned about the college\u2019s financial situation because the budget deficit has been shrinking. The deficit is currently $2.9 million, which is down from a peak deficit of about $4 million. <\/p>\n\n\n\n
\u201cOverall, we\u2019re in good shape,\u201d Klinedinst said. \u201cBut, as Middle States pointed out, our operating budget is where we really need to continue focusing on to get that to balance out, and that\u2019s what we\u2019re doing.\u201d <\/p>\n\n\n\n
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