The university expects $20 to $40 million in losses due to the coronavirus. The board of trustees discussed this financial impact as well as plans to save money at an ad hoc finance committee meeting Tuesday.
According to university spokesperson Jeff Stensland, estimated losses could change if the pandemic continues into the fall semester.
According to the committee report, “If losses are limited to the spring semester, the University will need to make adjustments, but can manage through the turmoil.”
The report also said that if the coronavirus pandemic continues into the summer and fall months, “difficult decisions and measures will be required.”
“Because we don’t know how long the virus will remain a threat, or what impact that could have on fall enrollment, we have to prepare for multiple scenarios,” Stensland said in an email. “If resuming a normal fall semester becomes jeopardized, we will have to make very difficult decisions in terms of cutting costs.”
According to the report, the university could receive federal or state assistance in the coming weeks.
The university may have to postpone certain construction projects, like the Campus Village project, to help save money. However, the board wants to move forward with renovations to Williams-Brice Stadium.
No final decisions have been made regarding delays to these projects, Stensland said.
Public colleges across the state are estimated to lose almost $100 million, according to the Commission on Higher Education. This number includes USC’s estimated losses.
Ed Walton, the executive vice president for administration, said: “There's so many variables in the fall that it's too hard to predict, both with a virus and for our economic impacts. We're not yet there yet. We would like to return to normal as soon as possible.”