By Anne Levin

Following up on a letter sent to the Rider University community on September 19 regarding the school’s precarious financial situation, University President John Loyack sent an update on October 6, thanking those who have responded to a request for input and detailing several of the suggestions that have been made.

Over the past two weeks, Loyack — who took over from former President Gregory Dell’Omo in July —and Provost Kelly Bidle have held over a dozen small group meetings with nearly 100 members of the faculty, staff, coaches, and student leaders, in addition to receiving feedback via email from the University community.

Rider’s difficulties include a $21.8 million deficit. In the discussions, several common themes emerged. Ideas that were shared “reflect a consistent understanding across this community of the gravity of Rider’s financial challenges and the imperative of taking steps that will stabilize and strengthen the University’s financial standing,” Loyack wrote.

Suggestions include additional layoffs, reducing salaries, eliminating some programs and activities, adjusting employee benefits, eliminating employee travel, and improving workload efficiency.

“While there is a lot to consider, one thing that is certain is that we must act with urgency if we are going to get beyond the current financial hardships, which have only been exacerbated of late,” Loyack wrote.

The letter noted widespread advocacy for improving the academic model by changing the curricular structure. “The frequently voiced view recognizes that our future requires stabilizing our enrollment numbers and that we can take nothing for granted; we must boost Rider’s impact on student educational growth, success, retention, and career readiness,” Loyack wrote.

Additional suggestions include partnerships with other institutions, shared services, advancing Rider’s interests in Trenton, improvements in campus environment, enhancing Greek life, upgrading dorms, and hosting more ticketed events on campus that draw the wider community. Rider can enhance existing revenue streams and create new revenues in the future through expanding programs in the health sciences and adding new programs in technology and engineering, considering sports camps led by Rider coaches, increasing rentals of campus venues, and strengthening town/gown relations with Lawrenceville, community members suggested.

There was a request for increased transparency in governance of the institution. Calls for more consistent, positive messaging; an increased level of community service among students; improvements to branding and the website, and simplifying the tuition and fee schedules were also mentioned.

Loyack said he has received questions regarding the settlement over the sale of the Westminster Choir College campus in Princeton, with which Rider has been affiliated since 1991. The campus was sold this past April to the Municipality of Princeton for $42 million. But Rider only received $13 million from the settlement; the remaining $29 million went to Princeton Theological Seminary, which originally owned Westminster.

“In response to some questions I received regarding the Westminster settlement, prior to my arrival, I, like many of you, was hopeful that the funds from the Westminster settlement would help with Rider’s financial situation, but this is not the case,” he wrote. “The funds anticipated from the Westminster legal settlement had been committed over the last several years as a basis for borrowing money that paid for prior-year cash operating losses. Rider is obligated to use the Westminster settlement proceeds to repay those loans and borrowings.”

The next step is to develop a restructuring plan to present to Rider’s Board of Trustees for immediate action. Additional input is welcome.

“Rider is a place with deep roots, proud traditions and immense potential, and together, we can ensure our future,” the letter concludes.