Washington State Cuts $60M Deficit With Smaller Operating Costs

Washington State President Kirk Schulz said that "progress has been made in the last three years" to address the school's more than $60M athletics deficit, particularly in "reducing the annual operating deficit" from $13M to $7M a year, according to Scott Jackson of the MOSCOW-PULLMAN DAILY NEWS. However, there is "much to be done before the full amount is retired." The athletics budget is "expected to be balanced" by '22. Schulz said that once that is done, WSU "must exert appropriate fiscal control over how it pays down remaining balances without overspending its yearly budget." Schulz: “We have three steps -- first, we have to have athletics balanced; second, they need to accumulate appropriate reserves. Third, we’ve got to work on not just hoping the deficit goes down over time and actually having a clear payment plan" (DNEWS.com, 5/15).