We have been coping for several weeks now with the psychological and physiological effects of COVID-19. But as Gov. Andrew Cuomo continues to remind us, beyond the toll that COVID-19 takes on our minds and bodies, there will be a financial cost as well.
You may recall that I outlined in February how the state budget would affect SUNY. Much has changed since then, as you can imagine. There is no doubt that the financial impact of COVID-19 on the college and the state will be significant.
In this year’s state budget, the budget director has been given the power to adjust the budget quarterly based on the state’s financial health. That’s why we need to remain vigilant in our spending now more than ever. We will need to expect the unexpected, which means reducing our overall spending to better position the college to protect its core mission.
As a college, we will take a hard look at all spending for this year and into the next year. My approach will not be a sweeping reduction across the board. Instead, I intend to be more strategic. We will evaluate and prioritize everything we are doing to see what can be trimmed.
One of the measures we will take in this new financial climate is restricting new positions. This will not impact searches that are currently underway, nor will it rule out filling positions on an emergency basis. We will also be able to fill vacancies, although we will review each closely.
On the admissions front, there is some relief. We’ve extended the deposit deadline for incoming freshmen to June 1. As many other colleges have pushed back their deposit deadlines, this will give prospective students extra time to consider SUNY Oneonta. Also, SUNY is looking at a test-optional application for the fall 2021 class.
And there is more good news. In the next two weeks, SUNY Oneonta will receive assistance from the CARES Act, which is a mechanism for the U.S. Department of Education to distribute $14 billion of the federal stimulus to colleges and universities across the nation.
Our allocation will total just over $5.7 million. The college is entitled to develop its own system and process for determining how to spend these funds. As a provision of the CARES Act, at least half must go to students as emergency aid grants to help cover campus expenses related to disruptions caused by the pandemic.
We are still waiting for more details about these stimulus funds. But this federal assistance is coming sooner than we expected and will help us in our intent to refund students.
I have seen tremendous resolve throughout the campus community since the pandemic first hit. I know that we are strong and that we will meet whatever challenges COVID-19 brings.