CANTON – Citing a $11.5 million deficit in February, St. Lawrence University officials have been working to better position themselves for decades to come.

One move set to take effect Jan. 1 is the reduction of retirement contributions from 10 percent to 6 percent for non-union employees.

“Let me say clearly, St. Lawrence University has been a strong institution for over 150 years and we are positioning the institution for success for the next 150 years,” stated President Kate Morris.

The University will also be awarding all faculty and non-union employees a 2 percent pay increase this year, according to University Spokesperson Kim Asch.

“Our thinking is that it's better to give our employees flexibility with how they spend their money,” she said.

In February, according to Asch, the Board of Trustees agreed to a three-year window or until 2026, to solve the fiscal issue.

“We have already identified the bulk of expense reductions and new revenue streams to address the deficit, leaving us with the need for $2.8 million of enhanced revenues and/or reduced expenses by 2026,” Asch stated. “Within the context of a budget around $125 million, the University remains confident that we will solve this challenge.”

St. Lawrence, like many colleges and universities throughout the country, is striving to recover from enrollment and revenue loss attributed to the pandemic.

“Like many higher education institutions in the North Country, New York state, and across the nation, St. Lawrence hasn't returned to pre-pandemic enrollment levels and it’s not likely they will soon, because all higher education institutions are facing a demographic shift in this country with declines in traditional college-age students,” said Asch.

“One of the first things we did was simply right-sizing budgets. We identified some positions that had long been vacant and identified places where budgeted funds exceeded what we were actually spending and made those adjustments. And that was a significant portion of what we have been able to do to reduce our deficit,” Asch continued.

So what is St. Lawrence doing to increase revenue and reduce expenses?

The University opened the Canaras Conference Center up to people outside our St. Lawrence community to book for weddings and other events. There is increased revenue from the London study abroad program, the university has introduced a new, inclusive digital textbook platform, and increased fundraising, said Asch in an email to North Country This Week.

Throughout the process, St. Lawrence has worked to adjust to the needs of today’s students.

Asch said the University is investing $30 million in facilities enhancements that include renovations to student spaces in residence halls, the library, and student center. Over the last two years, St. Lawrence has added six new academic majors - Biomedical Sciences, Data Science, Digital Media and Film, Finance, Pre-Health Chemistry, and Public Health - that have been very popular with students to the extent that almost 12% of the first-year class listed as their primary academic interest one of those 6 new majors.

The University is also launching a new Center for the Environment. New initiatives of the Center, according the St. Lawrence website, include:

Environmental Scholars Program –Scholarships for qualified first-year students with special opportunities, including a pre-orientation trip and First-Year Program courses with environmental themes.

Green Internship Fellowships–Stipends for students engaging in unpaid or underpaid professional opportunities within the environmental sector.

Green Innovation Grants–Provide funding to undergraduate students who create projects that improve energy use, reduce waste and increase recycling/composting on campus, and otherwise contribute to improving our campus environment and lower our environmental impact.

Develop an Environmental Fellows program and launch co-curricular, skills-based, and leadership opportunities to achieve an Environmental Distinction.