Thursday, January 26, 2023

Worried about rising costs, Bates College plans budget cuts - Steve Collins, Sun Journal, Lewiston, Maine

Bates College expects "some serious challenges ahead" because of inflation and an uncertain economy, according to its vice president for finance and administration. "Everything the college needs to purchase — from health care to food to fuel — is more expensive, Geoffrey Swift, who is also the college's treasurer, told colleagues in a letter last week. Swift said that because costs are growing faster than our ability to increase revenues," he has asked senior staff at the elite liberal arts college to pare spending in next year's budget on everything except personnel by 5%.