Friday, May 22, 2026
  • Contact Us
  • Advertise
  • Privacy Policy
  • Terms of Use
  • Members
  • Sign in
Westfair Communications
  • HOME
    • WESTCHESTER
    • FAIRFIELD
  • E-EDITIONS
    • Business Journal
    • 250 Years of Business & Commerce in America
    • Podcasts
  • MEMBERS
  • BUSINESS LISTS
  • INDUSTRIES
    • Economic Development
    • Real Estate
    • Hudson Valley
    • Courts
    • Banking & Finance
    • Construction
    • Economy
    • Education
    • Health Care
    • Food & Beverage
    • Government
    • Mergers & Acquisitions
    • Nonprofits
    • Retail
    • Technology
    • Home & Design
    • Health & Fitness
    • Travel
    • Lifestyle
  • SMALL BUSINESS
    • Small Business
    • Food & Restaurants
  • EVENTS
    • 2026 C-Suite Awards
    • 2026 Women Innovators
    • 2026 Millennial & Gen Z
    • 2026 Hispanic Innovators
    • Events Calendar
    • Past Events
      • 2026
        • 2026 Doctors of Distinction
        • 2026 40 Under Forty
        • 2026 Real Estate
        • 2026 Women in Power
      • 2025
        • 2025 Hispanic Innovators
        • 2025 Doctors of Distinction
        • 2025 C-Suite Awards
        • 2025 Women Innovators
        • 2025 40 Under Forty
        • 2025 Millennial & Gen Z
        • 2025 Real Estate
      • 2024
        • 2024 Doctors of Distinction
        • 2024 Women Innovators
        • 2024 40 Under 40
        • 2024 Real Estate
        • 2024 Women In Power
      • 2023
        • 2023 Women In Power
        • Milli + Genz
        • Women Innovators
        • Forty Under 40
        • Doctors of Distinction
        • Real Estate
      • 2022
        • 2022 Millennial + GenZ Awards
        • 2022 C-Suite Awards
        • 2022 Doctors of Distinction
        • 2022 THE FUTURE OF REAL ESTATE
        • 2022 FORTY UNDER 40
      • 2021
        • 2021 FORTY UNDER 40 VIRTUAL EVENT
        • 2021 TOP WEALTH ADVISORS Virtual Event
        • 2021 Milli + GenZ Awards
        • 2021 C-SUITE
        • 2021 DOCTORS OF DISTINCTION
  • GOOD THINGS
  • VIDEOS
    • Our Starting Lineup
    • News Videos
  • PARTNERS
  • ADVERTISE
  • SUBSCRIBEACT NOW
    • NEWSLETTERS
    • DIGITAL ACCESS
No Result
View All Result
  • HOME
    • WESTCHESTER
    • FAIRFIELD
  • E-EDITIONS
    • Business Journal
    • 250 Years of Business & Commerce in America
    • Podcasts
  • MEMBERS
  • BUSINESS LISTS
  • INDUSTRIES
    • Economic Development
    • Real Estate
    • Hudson Valley
    • Courts
    • Banking & Finance
    • Construction
    • Economy
    • Education
    • Health Care
    • Food & Beverage
    • Government
    • Mergers & Acquisitions
    • Nonprofits
    • Retail
    • Technology
    • Home & Design
    • Health & Fitness
    • Travel
    • Lifestyle
  • SMALL BUSINESS
    • Small Business
    • Food & Restaurants
  • EVENTS
    • 2026 C-Suite Awards
    • 2026 Women Innovators
    • 2026 Millennial & Gen Z
    • 2026 Hispanic Innovators
    • Events Calendar
    • Past Events
      • 2026
        • 2026 Doctors of Distinction
        • 2026 40 Under Forty
        • 2026 Real Estate
        • 2026 Women in Power
      • 2025
        • 2025 Hispanic Innovators
        • 2025 Doctors of Distinction
        • 2025 C-Suite Awards
        • 2025 Women Innovators
        • 2025 40 Under Forty
        • 2025 Millennial & Gen Z
        • 2025 Real Estate
      • 2024
        • 2024 Doctors of Distinction
        • 2024 Women Innovators
        • 2024 40 Under 40
        • 2024 Real Estate
        • 2024 Women In Power
      • 2023
        • 2023 Women In Power
        • Milli + Genz
        • Women Innovators
        • Forty Under 40
        • Doctors of Distinction
        • Real Estate
      • 2022
        • 2022 Millennial + GenZ Awards
        • 2022 C-Suite Awards
        • 2022 Doctors of Distinction
        • 2022 THE FUTURE OF REAL ESTATE
        • 2022 FORTY UNDER 40
      • 2021
        • 2021 FORTY UNDER 40 VIRTUAL EVENT
        • 2021 TOP WEALTH ADVISORS Virtual Event
        • 2021 Milli + GenZ Awards
        • 2021 C-SUITE
        • 2021 DOCTORS OF DISTINCTION
  • GOOD THINGS
  • VIDEOS
    • Our Starting Lineup
    • News Videos
  • PARTNERS
  • ADVERTISE
  • SUBSCRIBEACT NOW
    • NEWSLETTERS
    • DIGITAL ACCESS
No Result
View All Result
Westfair Communications
No Result
View All Result
Home Banking & Finance

CSCU, citing budget crisis, seeking $69 million bailout from state

Kevin Zimmerman by Kevin Zimmerman
October 11, 2020
0
Share on LinkedInShare on FacebookShare on Twitter

Citing a “budget crisis,” the president of the Connecticut State College and University (CSCU) system is asking for a $69 million bailout from the state.

CSCU bailout“Our budgets are strained to dangerous levels, putting the financial health of CSCU in critical condition,” President Mark Ojakian wrote yesterday to Gov. Ned Lamont. “The community colleges in particular are facing reserves near zero. I respectfully request that you support an appropriation in that amount to address our budget crisis.

“We desperately need help in building a bridge to take us beyond this troubled year,” Ojakian said. “Without additional state and federal funding, serious cuts threatening student-facing services and the long term viability of our institutions will have to be considered.” Furloughs are among the measures being contemplated.

Among the 17 schools belonging to CSCU are Western Connecticut State University in Danbury, Norwalk Community College, Housatonic Community College in Bridgeport and the online Charter Oak State College. The system is already in the midst of consolidating its schools into one central system in an effort Ojakian has said will save it some $23 million a year.

Unionized workers at CSCU received $20 million in raises this year under a 2017 agreement with the State Employees Bargaining Agent Coalition (SEBAC), Ojakian noted. Enrollment is also down this year, by about 5.5% at CSCU”™s four regional universities and by approximately 15% at its 12 community colleges.

Last week, the unaffiliated University of Connecticut asked the state for a $104.4 million bailout and said it would probably need even more if Covid-19 forces it to close again.

In an August interview with the Business Journal, Ojakian ”“ who is retiring at the end of the year ”“ said the cancellation of the fall semester could cost the system to run “over $100 million in deficit at least” in room and board refunds. CSCU issued about $25 million in such refunds for the spring 2020 semester.

Gov. Ned Lamont said he would look into the matter at a briefing yesterday, but did not commit any specific funds to CSCU.

This page is available to subscribers. Click here to sign in or get access.

Previous Post

Sacred Heart University withdraws from U. of Bridgeport takeover plan

Next Post

Westchester IDA backs multimillion-dollar renovations for MV and Tarrytown affordable housing

Related Posts

Legal records May 18, 2026
Legal Notices

Legal Notices May 18, 2026

May 22, 2026
Legal records May 18, 2026
Premium Content

Legal records May 18, 2026

May 22, 2026
Stanley Black & Decker makes $300K donation to National Mall restoration
Business

Stanley Black & Decker makes $300K donation to National Mall restoration

May 22, 2026
Next Post
Westchester IDA

Westchester IDA backs multimillion-dollar renovations for MV and Tarrytown affordable housing

Subscribe to our newsletter

Lifestyle

  • Exclusives
  • Good Things Happening
  • Food & Restaurants
  • Travel
  • Health & Fitness
  • Home & Design

World News

U.S. and world news for Dec. 4
World News

U.S. and world news for May 22

by Peter Katz
May 22, 2026
0

Republican leaders cancel vote on Trump’s war powers House Republican leaders abruptly canceled a vote Thursday on a resolution to limit...

New local real estate rules go into effect in wake of NAR settlement

CNN WIRE — Mortgage rates climb to highest level in 9 months: VIDEO

May 21, 2026
CNN WIRE — Trump rolling back regulations on refrigerants

CNN WIRE — Trump rolling back regulations on refrigerants

May 21, 2026
U.S. and world news for April 17

U.S. and world news for May 21

May 21, 2026
CNN WIRE — Raul Castro indicted for incident 30 years ago: VIDEO

CNN WIRE — Raul Castro indicted for incident 30 years ago: VIDEO

May 20, 2026
U.S. and world news for May 20

U.S. and world news for May 20

May 20, 2026
No Result
View All Result

Latest News

Legal records May 18, 2026
Legal Notices

Legal Notices May 18, 2026

by Westfair Online
May 22, 2026
0

The Business Journals are a trusted source for legal notices in Westchester County, providing timely access to...

Legal records May 18, 2026

Legal records May 18, 2026

May 22, 2026
Stanley Black & Decker makes $300K donation to National Mall restoration

Stanley Black & Decker makes $300K donation to National Mall restoration

May 22, 2026
Towns served by Aquarion Water still a hard ‘no’ on changing ownership

Eversource request for $503M rate increase leads to political row

May 22, 2026
Merger of AvalonBay Communities, Equity Residential creates $52B company

Merger of AvalonBay Communities, Equity Residential creates $52B company

May 22, 2026
Logo Westfair Business Journal

Latest News

Legal Notices May 18, 2026

Legal records May 18, 2026

Stanley Black & Decker makes $300K donation to National Mall restoration

  • About Us
  • Contact Us
  • Advertise
  • Privacy Policy
  • Terms of Use
  • Sign in

Trending Westchester

Subscribe to our newsletter

© 2024 Westfair Business Publications. All rights reserved. Westfair Communications (Westfair), a privately held publishing firm based in Mount Kisco, N.Y., publishes the Westchester County Business Journal in New York state and the Fairfield County Business Journal in Connecticut.

No Result
View All Result
  • HOME
    • WESTCHESTER
    • FAIRFIELD
  • E-EDITIONS
    • Business Journal
    • 250 Years of Business & Commerce in America
    • Podcasts
  • MEMBERS
  • BUSINESS LISTS
  • INDUSTRIES
    • Economic Development
    • Real Estate
    • Hudson Valley
    • Courts
    • Banking & Finance
    • Construction
    • Economy
    • Education
    • Health Care
    • Food & Beverage
    • Government
    • Mergers & Acquisitions
    • Nonprofits
    • Retail
    • Technology
    • Home & Design
    • Health & Fitness
    • Travel
    • Lifestyle
  • SMALL BUSINESS
    • Small Business
    • Food & Restaurants
  • EVENTS
    • 2026 C-Suite Awards
    • 2026 Women Innovators
    • 2026 Millennial & Gen Z
    • 2026 Hispanic Innovators
    • Events Calendar
    • Past Events
      • 2026
      • 2025
      • 2024
      • 2023
      • 2022
      • 2021
  • GOOD THINGS
  • VIDEOS
    • Our Starting Lineup
    • News Videos
  • PARTNERS
  • ADVERTISE
  • SUBSCRIBE
    • NEWSLETTERS
    • DIGITAL ACCESS

© 2024 Westfair Business Publications. All rights reserved. Westfair Communications (Westfair), a privately held publishing firm based in Mount Kisco, N.Y., publishes the Westchester County Business Journal in New York state and the Fairfield County Business Journal in Connecticut.