Washington State University officials used a combination of spending cuts and greater-than-expected revenue growth to cut the deficit. The plan is to balance the operating budget by the end of fiscal year 2020.
PULLMAN, Wash. (AP) — Washington State University is making a good start on its three-year plan to erase a $30 million annual operating deficit.
The school said Monday that it reduced is deficit by $22 million in fiscal 2018, surpassing its goal by $12 million.
The school had planned to cut its operating deficit by more than $10 million per year.
Washington State officials used a combination of spending cuts and greater-than-expected revenue growth to cut the deficit.
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Under the fiscal health plan, the university’s operating budget will be balanced by the end of fiscal year 2020.
The deficit is the result of strategic investments in previous years that included expanded classroom space, a new medical school, development of WSU Everett, construction of new athletic facilities and other priorities.