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University of Akron Restoring Pandemic-Reduced Wages

Ideastream Public Media | By Sarah Taylor

Published February 10, 2021 at 6:26 PM EST

Student Union, University of Akron — The University of Akron expects lower enrollment next fall and a need to draw on reserves the next four fiscal years to balance the budget.

The University of Akron is restoring employee wages that were cut due to financial trouble caused by the coronavirus pandemic. The salaries of administrators and staff earning more than 50-thousand dollars a year have been reduced since last July.

The Board of Trustees today (Wednesday) approved restoring them to previous levels effective January 1 of this year.

University president Gary Miller says federal financial assistance and a revised budget forecast are allowing the move.

University of Akron President Gary Miller

The University's financial picture has been helped by one-time government grants, better-than-expected revenue from tuition/fees and state funding and lower-than-expected utility and operating expenses. The University will end the year with a surplus instead of drawing $7.8 million from reserves to balance its budget.

“I want to thank everyone for their shared sacrifice. We all appreciate the commitment to our university community and all the efforts that you’ve made to make this adjustment and adapt to these very trying times.”

Trustees did not take action on a tentative contract reached with the faculty union. A spokeswoman says that vote will wait until the union completes its ratification process. She indicates a special meeting will likely be called to vote on the deal.