TCU chancellor says school is ‘scrambling’ to make up $50 million in losses from COVID-19
TCU has lost $50 million amid the coronavirus pandemic, chancellor Victor Boschini said on a Big 12 videoconference Friday.
Like most colleges across the country, TCU is doing what it can to soften the impact from the worldwide pandemic by trimming budgets and, in some cases, asking the highest-paid employees to take voluntary pay cuts.
Boschini said the idea of playing home football games in front of limited capacity crowds of 25% to 50% is going to be a “huge hit” for the university.
He then added: “In general, we’re losing money by the minute in every area because of this. By May 30 [Saturday], we’ll lose about $50 million on our campus for different reasons because of COVID-19. As far as how we’re going to make up, yeah, we’re scrambling to do that right now. We’re cutting costs everywhere. We’re not giving raises until January, taking lots of measures like that. I think every campus is doing similar things.”
TCU has had four individuals test positive for coronavirus, including three contracted construction workers and one student.
New fall dates
Boschini announced new fall semester dates on Friday as well.
Instead of the fall semester starting on Aug. 24, TCU will begin its semester on Aug. 17. The school will end its on-campus portion of the semester on Nov. 24 before Thanksgiving. Final grades will be due on Dec. 10.
“As an organization that employs and cares for so many, we must plan responsibly, deliberate with transparency, and make the best decisions for our future,” Boschini said in a statement posted on the school’s website. “Our goal in altering the fall 2020 calendar is to reduce non-essential travel over the holidays and minimize time on campus during peak flu and cold season. This also allows students to return home before Thanksgiving and enjoy an extended winter break with their families.”
TCU added that it will announce more plans for its fall semester in June, including plans for social distancing, use of larger classrooms and outdoor spaces, enhanced cleaning protocols and residence hall capacity.
This story was originally published May 29, 2020 at 5:06 PM.
