The college projects that its budget deficit will fall to about $18 million this fiscal year, a reduction of more than 50% from the deficit budgeted for last year, Columbia’s interim chief financial officer told the Faculty Senate on Friday, Sept. 25.
The reduction comes largely from expense cuts, including layoffs and positions left vacant after employees departed.
Jeffrey Bethke, interim chief financial officer, said the college is now at a staffing level in line with the budget for fiscal year 2027, which started Sept. 1, but revenue remains uncertain as the college has not yet finalized fall enrollment figures.
“Almost all of the work was on the expense side, which makes it particularly painful for the college,” he said. “It’s no secret we’ve had some workforce reductions over the course of the last six months.”
The projected reduction follows a $40 million operating deficit budgeted for the fiscal year that ended in August. The college also has an endowment of about $130 million and $60 million in outstanding debt, Bethke said.
“This is another thing that’s good about Columbia College,” he said. “The level of indebtedness is not super high for this size of institution.”
Columbia’s enrollment in Spring 2026 was 3,958.
David Gerding, Faculty Senate president, said the new budget projections are a sign Columbia is moving forward.
“I hear that as ‘There’s a realistic path towards Columbia getting back to long-term sustainability and long-term operation,’” said Gerding, an associate professor in the School of Design.
Amelia Lutz, Student Government Association president, said news of the budget reduction is a relief.
“The administration has been very upfront about not wanting to push the costs of the deficit onto students, and with the decrease in the deficit I think students can feel like they can breathe a little bit easier,” said Lutz, a senior film and television major.
Since January 2025, the college has laid off four senior administrators and 54 full-time faculty members, the Chronicle reported in May 2026. The college also laid off five instructional specialists this summer and 14 staff members who were a part of United Staff of Columbia College.
“Unfortunately, we had also lost many faculty members that helped us,” said Oshun Cortez, president of the Latino Alliance and a junior film and television major.
Although the official numbers are not yet available, Columbia’s new student enrollment this fall is on track to be nearly double from the year before. Columbia reported about 1,100 new students this fall compared to 632 first-time, first-year students last fall, as the Chronicle previously reported.
“The big question now relates to the revenue side,” Bethke said.
He said the college still has to tackle the remaining deficit, which he characterized as high relative to Columbia’s income, which primarily comes from tuition.
“That level of operating deficit is completely unsustainable and puts us all in a bind as it relates to having a path forward productively and sustainably,” Bethke said.
Gerding told the Faculty Senate that the best thing faculty can do for students is to focus on retention.
“It really matters because it’s the easiest revenue for us to secure,” he said. “It’s directly in line with our teaching and learning mission, which is serving our students even more effectively.”
Copy edited by Venus Tapang
Resumen en español
La universidad proyecta que su déficit presupuestario bajará a unos 18 millones de dólares este año fiscal, una reducción de más del 50% de lo que fue presupuestado el año pasado, dijo el director financiero interino de Columbia, Jeffrey Bethke, al consejo universitario este viernes 25 de septiembre.
La mayor parte de la reducción viene de recortes de gastos, incluidos despidos y posiciones que quedaron vacantes después de que esos empleados fueran despedidos.
Resumen por Guadalupe Loza-Sanchez
