SOUTH BEND, Ind. (AP) — The University of Notre Dame is projecting a more than $100 million revenue shortfall for the upcoming fiscal year in part because of the coronavirus outbreak.
In a letter sent to Notre Dame staff, faculty and students last week, university President the Rev. John Jenkins and other top administrators cited “financial aid expenditures, flat endowment payout, lower auxiliary revenue and projected lower levels of philanthropy” during the fiscal year that begins July 1. It says Notre Dame expects the financial challenges to hurt its budget “for the foreseeable future.”
The South Bend Tribune reports the university already was expecting a shortfall of $44 million for the current fiscal year.