UI rebounds from past years’ shortfalls with $900,000 surplus

After years of deficit spending and budgetary shortfalls stretching into the tens of millions, the University of Idaho announced Tuesday it ended fiscal year 2020 with an operating surplus of more than $900,000.

In an email sent to UI students, faculty and staff, President Scott Green said the UI ended 2018 and 2019 with $21 million and $19 million in losses respectively. He said the school reversed this trend in a single year by cutting around $22 million in expenditures.

Green said while the school has improved its net position by more than $4 million, UI reserve accounts are still well below levels required by the State Board of Education.

“In short, we have disrupted the trend and should be rightly proud of the incredible progress made,” Green’s message read. “However, we are not financially in the clear yet and need to maintain our focus on headcount, operating expenses and cash management.”

Green said fall enrollment numbers will be finalized and released later this week and warned they are down more than expected because of low dual enrollment numbers.

He said the UI is still assessing the fiscal impact of this decline, “but expect it will be manageable.”