10.21.14: Grand Rapids Community College plans buyouts
GRAND RAPIDS, Mich. (AP) — Grand Rapids Community College plans to offer buyouts to some faculty and staff as part of an effort that could save $5 million over the next decade.
The offers seek to trim expenses because of declining enrollment.
School President Steven Ender says any money that the school can save “without having to take a hard look at programs, the better we like that scenario.”
The college’s Board of Trustees approved the buyout offers on Monday night. The college estimates the buyouts would generate $1.3 million in savings over three years if 15 faculty and 10 staff members take them.
The plans come as the college is projecting a budget deficit of between $2 million and $5 million for the 2015-16 school year.