Thu June 6, 2013
Cedarville Appoints New President, Reallocates Money in Budget
Cedarville University has hired a new president and reorganized its finances. The university has laid off 29 non-teaching employees to help deal with a $4 million budget reallocation and selected a replacement for Bill Brown, who retired after 1o years leading the school.
The university's board of trustees issued a mandate stating that $4 million of the school's $110 million operating budget needed to be reallocated in order to keep operations sustainable.
Cedarville's Executive Director of Public Relations, Mark Weinstein, says the school is in decent shape financially.
"This year's budget was $106 million, next year our budget is $110 million. So we are actually growing the budget. We are actually moving forward. This was just a precautionary and a visionary step to keep us in solid position. A position where the last 34 years we have had a balanced budget and this year will be no exception," Weinstein said.
The university also cut some of its academic programs, including philosophy and physics. Cedarville will raise tuition by nearly three percent next year to a little over $26,000. Weinstein believes the changes will give Cedarville a better chance to survive.
"Who knows about what's going to take place with the economy. But in terms of the landscape in higher education, we feel like we are poised and positioned to be in an area of strength and Lord willing that will stay the case," Weinstein said.
On Wednesday, Cedarville appointed Thomas White as the university's 10th president. He was vice-president of Southwestern Baptist Theological Seminary in Fort Worth, Texas.
White will start his new duties on July 1.