University of Akron officials brace for $20M revenue drop

AKRON, Ohio (AP) — University of Akron officials are bracing for a $20 million drop in annual revenue next year because of declining enrollment.

The Akron Beacon Journal reports ( ) that the potential loss is expected to be a factor in the university’s budget deliberations as its current fiscal year ends June 30.

The board of trustees’ is slated to vote on a new budget at its June 15 meeting.

The school anticipates a 23 percent decline in incoming freshmen this fall. That’s expected to drive an overall decline of 9 percent in student enrollment in the coming school year.

University officials are ramping up efforts to recruit students to try to head off the expected decline.

The university’s president recently stepped down from his role after trustees determined the school needs new leadership.

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