Carolyn Stefanco was inaugurated as President of the College of Saint Rose in April of this year. Just a few months later, Stefanco proposed changes, including program cuts, to academic offerings at the Albany private liberal arts college as the college works to identify the best ways to reduce a $9 million deficit and boost enrollment.
Stefanco discussed the specifics of her recommendations with trustees two weeks ago. While no specific cuts or increased areas of spending were announced, a statement noted the college had refinanced its debt and lowered its borrowing costs; eliminated 40 staff and administrative positions, 23 of which were filled; eliminated contingency budgets; and reduced spending for employee benefits and other areas.
While the trustees met on the Friday before Thanksgiving, faculty, students, and alumni rallied outside to protest the cuts. To discuss the fiscal woes and future plans, we welcome Dr. Carolyn Stefanco to the RT this morning.