CHAMPAIGN, Ill. (WCIA) — Schools around the country are facing challenges during the pandemic, and Parkland College is facing a financial one.
The school is facing a $5 million deficit in the next fiscal year. So it went back to a plan it introduced in 2016 after a budget issue with the state. They call it a voluntary separation program.
Employees thinking of leaving the school or retiring soon get benefits for doing it now, and it saves the school money in the meantime. Parkland College President Tom Ramage says the deficit comes from enrollment estimates.
“The fall estimates are down fairly significantly compared to previous fall semesters,” says Ramage. “Our budget is planned on a 20 percent enrollment decrease for the fall semester that’s starting here in mid-August. Whether that materializes or not remains to be seen.”
Ramage also says there is no plan yet for what to do if the current plan does not free up all $5 million. The deadline for Parkland employees to apply for the program is Aug. 15.