SHEPHERDSTOWN, W.Va. — The Shepherd University Board of Governors is pleased with steps underway to right size the university’s budget.
During a special meeting of the Shepherd University Board of Governors on October 10, the Board received a full briefing on the unaudited close of fiscal year 2023 financial results.
A press release following the meeting said, “Due to the administration’s ability to quickly identify the emerging challenge and implement cost-saving measures in the last quarter of fiscal year 2023, the briefing reflected that the University closed FY2023 in a fairly stronger position than had been anticipated in earlier briefings projecting the year-end outcome.”
Shepherd is facing a $6 million deficit over the next two years. The school has already identified $3.8 million in cost reductions,
“The Board is pleased with the significant progress made by the University over the past five months,” said Mr. Gat Caperton, Chair of the Board of Governors.
Shepherd University has also been looking at streamlining its programming, according to University President Dr. Mary JC Hendrix:
Among some other streamlining measures being considered is the closing of the Martinsburg campus, which opened ten years ago with a focus on non-traditional, adult learners.
Shepherd University President Dr. Mary JC Hendrix was a recent guest on Panhandle Live. Her full remarks can be heard via our Panhandle News Network Spotify here. 