PERRYSBURG, OH (WTOL) - Owens Community College is coming out of fiscal watch a year ahead of schedule.
From 2013 to 2016 Owens fell short when it came to making the grade financially. That's when major cuts and tough decisions were made - like suspending all but three of its sports teams, eliminating faculty positions and cutting spending.
Tuesday afternoon, President Mike Bower announced to faculty, staff and students that the tough decisions paid off, and now the college is making the grade
"The college has been here for 50 years, and we want to be here or 50 more," President Bower said. "It was difficult, but now we know we made the right decision in moving forward."
The college took a number of actions toward gaining fiscal recovery, including:
- Stabilizing net assets position and financial indicators through aligning projected revenue with operational expenses and implementing prudent financial oversight, controls and cost-saving measures
- Evolving organizational capacity through a systemic focus of meeting the needs of students, employers and employees, fostering communication and accountability
- Strengthening connections to prospective students through marketing, linking academic programs with careers and jobs, promoting opportunities for earning college credit toward a degree and supporting key services that enhance student retention, transfer and completion
- Adapting, developing and aligning quality academic programs and educational delivery with labor market needs and job opportunities while fostering student learning, assessment and completion through strategic planning, efficiencies, partnerships and pathways
Bower said he has hopes that enrollment will pick back up and activities like athletics will come back. For now though, they're focusing on academics.
"We are pleased with the concentrated effort put forth by Owens Community College to address its financial situation and get on the path to fiscal recovery," said Chancellor John Carey, State Board of Regents Office. "The release of the college from fiscal watch status is the result of diligence and hard work. We look forward to seeing Owens continue on this path."