5/28/2020: Actually the agenda for their June 4th meeting isn’t posted yet, so it’s unclear if this will be among the cost-savings measures to be considered. Maybe they’ll cut baseball instead.
5/15/2020: UO Law School needs $250M to avoid financial exigency
It now costs UO’s law school about $170K to produce a law school graduate who can pass the bar exam. Over their three years they pay only about $60K in tuition – 50% off the list price. 75% of their students are from out of state.
The Law School started 2015 with a $3.3M positive carry-forward. As of March 2020 they were $5.7M in the red, on a heavily subsidized budget of $16M a year – they bring in only about $8M in tuition.
Our E&G bucket is on the hook for the $9M debt and pays for the continuing $8M deficit – including $390K for new Dean Marcilynn Burke and $290K for former Dean Michael Moffitt, who apparently knows something about contracts.
Closure can’t be far off without significant donor support. Back of the envelope it would take a $250M endowment gift, which would yield $9.5M a year after Paul Weinhold’s UO Foundation takes their cut.
Here are the numbers, from painfully drilling down into the docs on UO’s new transparency website, here.