College Update on Finances

By Casey Roepke ’21

News Editor

On Thursday, Sept. 17, the College provided an update on the financial situation and announced permanent structural changes. In a statement by College President Sonya Stephens and Vice President for Finance and Administration and Treasurer Shannon Gurek, it was announced that “the pandemic has created both short-term and longer-term challenges to our operations, negatively impacting the College’s financial outlook.” This letter was a follow-up response to an Aug. 19 statement in which Stephens and Gurek announced furloughs and budget reductions.

The first section of the statement was devoted to an update on the current state of staff furloughs. Twenty-four staff who were on full furlough and 10 on partial furloughs over the summer will have their furloughs extended through Dec. 31. Additionally, the College has furloughed 119 staff (92 full and 27 partial furloughs) through the end of the calendar year. According to the statement, a majority of furloughs were in Dining, Facilities Management, Student Life, the Willits-Hallowell Center and Event Services. Stephens and Gurek wrote that the College is developing “an Employee Safety Net Fund to support employees experiencing financial hardship and will share more information about that in October.” 

The update also provided information on changes in College structure and programs. The College is consolidating Dining Services with the Willits-Hallowell Center, Events Services and Auxiliary Services into one department led by Rich Perna with the support of Imad Zubi. In the statement, Stephens and Gurek wrote that they anticipate “this consolidation will, over time, also generate cost savings as a result of the streamlining of operations.” 

The Advancement and Communications offices are also being consolidated into a new College Relations division. Kassandra Jolley will transition from vice president for advancement and acting vice president for communications and marketing into a new role as vice president for College Relations.

In the update, the College also announced that golf will be discontinued as an intercollegiate sport. The College will be undergoing a review process of the Equestrian Center and the physical education program.

Stephens and Gurek finished the letter by thanking the Library, Information and Technology Services employees for their support in remote learning. “We are grateful to all faculty and staff for all that you do to support our students,” Stephens and Gurek wrote, “and to advance the work and mission of Mount Holyoke College.”