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The GW Hatchet


The GW Hatchet

Serving the GW Community since 1904

The GW Hatchet

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Crime log: Subject barred after shoplifting at bookstore
By Max Porter, Contributing News Editor • February 26, 2024

Budget cuts to be $4 million less than last year

Officials said programming and academic cuts are expected to be less drastic next year due in part to increased fundraising.

Last year, an $8 million gap forced the University to reallocate money and cut academic and service programs. This year, only $4 million will need to be made up, Executive Vice President and Treasurer Lou Katz said.

“Some things may be at risk,” Katz said. “But the budget is close to being finalized and we don’t anticipate any cuts in services or academics budgets.”

Katz said service programs and academics are likely not to receive any aggregate cuts in funding but that individual programs and departments may still see funding changes.

The administration will be submitting next year’s budget to the Board of Trustees to consider at its May meeting. The fiscal year begins July 1.

To make up the $4 million gap, Katz said the University will cut things such as cleaning services for offices and delay purchasing some products or services.

“We make cuts in ways we hope students will not see,” Katz said. “The little things.”

Vice President for Advancement Laurel Price Jones said she takes pride in this year’s fundraising efforts.

“That’s what fundraising is all about,” she said. “It’s all about making things possible that would not be without the donations.”

While she could not give specific figures over how much money has been raised this year, unrestricted giving – donations to the school that can be spent anywhere – and scholarship donations were two areas that are higher now then they were last year at this time.

“The year’s not over yet,” she said. “We’re expecting by the end of the year, we will have growth in a number of areas.”

The reason for the growth is due to more people working in the fundraising office. About 40 more people work in advancement departments this year.

“If we can secure significant gifts then the University is able to do things it would not have been able to do,” she said.

She said University President Stephen Joel Trachtenberg stepping down as president and making trips around the world have also contributed to increased fundraising.

Last year, an $8 million gap created cuts in academic, service and capital projects. As the University mulled how to make up the budget gap, some administrators warned that budget problems this year could be as bad as they were last year.

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