COLUMBUS, Ohio — Ohio State President Michael Drake said Tuesday an estimated $300 million loss in revenue is expected across the university and the Wexner Medical Center. In a message to the OSU community, Drake wrote that shortfall has already been addressed through some cost-cutting measures and revenue enhancements. However, he said his office will present an interim budget for July and August only to the Board of Trustees this week. That budget will call for $58 million in cost savings for Ohio State in those two months alone, as well as $45 million in cost savings for the Wexner Medical Center. Drake said continued uncertainty involving the COVID-19 pandemic made it impossible to present a full budget for the coming fiscal year, or project necessary cost savings beyond August Drake said all colleges and support units were asked to prepare a range of budget projections including potential 5%, 10%…
Continue Reading: Ohio State President Michael Drake projects 0 million revenue loss due to COVID-19 pandemic
