Weekly Briefing: Your College Survived the Fall Term. But Will It Survive the Spring?

Many institutions took financial hits this semester, but one such problem can set off a series of fiscal woes. ADVERTISEMENT [Advertisement]( [logo] Was this newsletter forwarded to you? [Please sign up to receive your own copy.]( You’ll support our journalism and ensure that you continue to receive our emails. [Read this newsletter on the web](. Spring semester is coming. Is your college ready? [image] Kevin van Aelst for The Chronicle For many colleges this semester's finish line has come and gone: Thanksgiving. In August our Lindsay Ellis [traveled to the University of Kentucky]( where Eric N. Monday, the executive vice president for finance and administration, told her that the Tuesday before Thanksgiving would be an important benchmark. If Kentucky could remain open with in-person instruction until then, Monday said, the semester would have been a success. The campus [stayed open]( until that day. Other institutions also crossed the Thanksgiving threshold. But how did their budgets hold up? Many colleges took financial hits this semester, and one such problem can set off a series of fiscal woes. This week a new online survey, conducted by The Chronicle, the course-scheduling firm Ad Astra, and Davidson College’s College Crisis Initiative, tackled that question. The survey was conducted from October 20 to November 11, and drew responses from financial officers at 162 public and private institutions. Many colleges surveyed, particularly small private ones, offered their students high discount rates. In turn, they saw declines in net tuition revenue. That can cut deeply into the bottom line. The survey found that colleges that held only online courses in the fall, and announced furloughs or layoffs, had suffered net tuition losses of more than 5 percent. The declines in net tuition could give campuses cash-flow problems in the coming months, one consultant told our Scott Carlson. In the survey responses, some financial officers had the same concern, writing that their reserves were low. That cash deficiency could mean that colleges will struggle to meet payroll or pay debts later. Other institutions may use a credit line earlier than they should to make up for shortfalls. Larger colleges were more likely than others to lose money on athletic events, especially if they had an NCAA football program. The larger institutions and colleges in the survey with higher graduation rates also lost money on dining and residential operations, and ended up spending more to equip the campus and test the community for Covid-19. A vaccine to protect the public from the disease may be just around the corner, but there's no easy shot in the arm to cure colleges' Covid-19 losses. Public and private institutions alike have taken financial blows, and the money woes show no signs of stopping. [Read Scott's story here](. Paid for and Created by Florida International University [FIU’s Green School of International and Public Affairs creates tomorrow’s global leaders]( Providing students with an insider’s view from experts on global affairs, Florida International University launched the State of the World conference on global relations and U.S. foreign policy, allowing students to engage with leaders and policymakers. ADVERTISEMENT [Advertisement]( Subscribe to The Chronicle Our mission, at a time of crisis and uncertainty, is to ensure you have the information you need to make the best decisions for your institution, your career, and your students. Please consider subscribing today to sustain our continuing coverage. [Subscribe Today]( Lagniappe. - Learn. When will it be your turn to get the Covid-19 vaccine? [This tool]( can calculate and estimate. (The New York Times) - Read. End-of-year lists of 2020's publications and productions abound. My favorite book that I read this year was first published in 1962, The Little Virtues, [by Natalia Ginzburg](. A close second is A Broken Mirror, by [Mercè Rodoreda]( published in 1974 in Catalan. Both are stories of family life as the world endlessly unravels around them. (The Guardian, Kirkus Reviews) - Listen. This is where I usually recommend a podcast or album for your weekend. Instead, [here are 50 new albums]( recommended by the folks at NPR. - Watch. When the actress Sophia Loren is on screen, she usually steals the show. In her latest film, The Life Ahead on Netflix, her co-star, 14-year-old Ibrahima Gueye, has the same effect. [Together they are brilliant](. (The New York Times) In the spirit of end-of-year lists — and distraction — please send me the title of your favorite book from 2020, at fernanda@chronicle.com. It doesn't have to have been published this year. Cheers, —Fernanda This Week‘s Top Reads FACULTY [What Does African American Studies Need to Thrive?]( By Emma Pettit [image] UCLA’s department has been rocked by accusations of misconduct. Is the university to blame? ADVERTISEMENT [Advertisement]( THE REVIEW [We Deserve Better From Our Public Intellectuals]( By Anastasia Berg [image] On Kate Manne’s new book, incels, and the perils of public philosophy. ADMINISTRATION [Why Senior Research Leaders Are Starting to See Themselves as ‘Chief Revenue Officers’]( By Lindsay Ellis [image] These top administrators could soon have the stature of provosts as their responsibilities grow. Job Announcement Tenure Track Faculty Positions at California State University, Fullerton. [Visit jobs.chronicle.com]( for more details. Paid for and Created by New York University [Engineers Are Helping Draft the Solutions to America’s Ills]( Seeking to remove bias from AI, NYU Tandon School of Engineering professor, Julia Stoyanovich, is applying research to build open-source tools that allow for easy-to-interpret information on fairness, stability and transparency. The Chronicle's Featured Report: The Post-Pandemic College [Leading experts examine how the pandemic will shape higher education]( in the years to come and what the college of the future may look like. To recover well, colleges must develop a more externally-focused business model, direct resources to expand professional development in online teaching, and continue to expand mental-health services. Job Opportunities [Search the Chronicle's jobs database]( to view the latest jobs in higher education. What did you think of today’s newsletter? [Strongly disliked]( // [It was OK]( // [Loved it](. [logo]( This newsletter was sent to {EMAIL}. 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