DAYTON — Sinclair College’s board of trustees voted Tuesday on several resolutions that will reduce spending on staffing and spending in the capital budget for the fiscal year beginning July 1.
The votes will implement a budget the college is calling “responsibly balanced.”
Sinclair faced $1,955,878 in cuts from fiscal year 2020, when Gov. Mike DeWine unveiled cuts made to the state’s education system as a result of the coronavirus pandemic.
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“Sinclair’s finances were healthy going into the pandemic and the Board, administration and leadership groups will work to ensure that the college remains financially strong, stable and secure during this unprecedented period,” a release from the college read.
According to the college, Sinclair has ample reserves and a rainy day fund to use as a bridge during economic downturns like ones the economy is experiencing due to coronavirus.
The college’s personnel and curriculum committee set priorities as it reviewed the fiscal year budget to avoid salary reductions, lay-offs of full time employees and across-the-board furloughs if possible, according to the agenda.
Sinclair affirmed Tuesday that there are no furloughs or layoffs planned at the current time.
The approved budget includes $7 million in cost reductions, the college said.
As part of the plan, 20 full-time faculty and staff will take a retirement incentive and approximately 50 full-time positions will be held open indefinitely.
Additionally, due to the coronavirus pandemic the board approved a “constrained capital budget” of $11 million, which is lower than the typical $15 to $20 million capital budget.
“The college has planned to align operations and spending in a variety of ways to fit expected revenues. We are freezing open positions, suspending travel and incentivizing retirements to help close gaps in the college’s budget,” said Sinclair President Steve Johnson. “When combined with Sinclair’s history of conservative financial management and planning for rainy day scenarios, this has bought much needed flexibility during this difficult time.”