The Maroon

Tetlow announces balanced budget for fiscal year 2019

India Yarborough

Hang on for a minute...we're trying to find some more stories you might like.


Email This Story






Loyola University’s budget for the current fiscal year, Aug. 1 through July 1, 2019, is now balanced, according to an email sent Monday to faculty and staff by Tania Tetlow, university president.

The budget was balanced through a process that included 62 percent new revenue and a 38 percent reduction in operating costs, according to the email.

The university’s primary revenue for fiscal year 2019 comes from the tuition income of enrolled students, Tetlow wrote. She said a dip in enrollment after 2012 had a “cumulative, growing impact,” on income but that numbers are looking up.

“It is crucial that we continue to generate more revenue, to find the intersections between Loyola’s strengths and real demands in the market for the education we offer,” Tetlow said. “That new revenue will allow us to restore some of the cuts that are designed to be temporary – to return the university’s retirement contribution and to increase staffing in critical areas.”

Faculty and staff helped the school outperform its expected deficit by 5 percent last fiscal year, according to Tetlow.

The bulk of Loyola’s expenses, Tetlow wrote, are personnel costs. She said the university will be implementing technology soon that will improve the school’s ability to monitor financial performance.

“We will need to remain frugal and lean right now, to maintain the balance between affordability and excellence for our students,” she said.

Tetlow will begin holding regular town halls Wednesday, Sept. 26 at 3 p.m. to address budget concerns.

Print Friendly, PDF & Email

About the Writer
India Yarborough, Senior Staff Writer

India is a senior mass communication major, sociology minor from Columbus, Mississippi. She has served as news editor and a contributing writer for The Maroon and will spend her final fall semester at Loyola as the paper’s senior staff writer. She is actively involved in Theta Phi Alpha Fraternity, the University Honors Association, and Omicron Delta Kappa Honors Society. She also enjoys crawfish, a good IPA, and reading books by Mississippi authors. She recently spent a semester abroad in Amsterdam, Netherlands and is excited to return to Loyola’s campus with revived energy and a fresh perspective.

Print Friendly, PDF & Email
Leave a Comment

If you want a picture to show with your comment, go get a gravatar.




Navigate Right
Navigate Left
  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    Loyola revisits climate survey results

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    Purchasing specialists hired to maintain financial stability

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    Staff survey met with low response rate

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    President brings “good news” at President’s Report

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    Harris leaves legal career to work as right-hand woman to Tetlow

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    Waldrop takes final vows at Mass of the Holy Spirit

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    Loyola lowers hurricane evacuation threshold

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    Diversity grants to be given to students, staff

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    Loyola names Lesli Harris as first ever chief of staff

  • Tetlow announces balanced budget for fiscal year 2019

    Administration

    New director takes over the Whelan Children’s Center

Since 1923 • For a greater Loyola
Tetlow announces balanced budget for fiscal year 2019