ASHLAND, Ore. – SOU says they have the lowest reserve funds of any of the seven universities in Oregon, but they are working on a plan to change that.
SOU President Dr. Rick Bailey said they currently have $6 to $7 million in reserve funding, but he wants to have at least enough funding to operate for a Fall quarter in case of an emergency.
Bailey said that would mean they need to save just over $20 million for their rainy day fund.
He said they will be working with the university’s board of trustees and faculty to create a plan they can put into action.
“We know that that’s a target we can’t get to overnight,” Bailey said, “we know that. Especially with everything that we’ve been through and the challenges we still have as an institution. I know that every college and university would like to have more resources, so we need to be really thoughtful moving forward.”
Bailey said they will be having conversations with students and faculty later this month about building their reserve funds.
He said they are also working with their budget committee to see if they can find a consensus for how to move forward.
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