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Audit firm: WVU one of many higher education institutions navigating choppy financial waters

MORGANTOWN, W.Va. — Members of the audit firm CliftonLarsonAllen recently spoke to the West Virginia University  Board of Governors about the financial headwinds facing higher education and provided some tips.

Don Loberg

CLA Managing Principal of Industry Don Loberg started his presentation with a troubling preference for higher education. Loberg said there are many institutions that won’t have the available time or resources to make the market adjustments needed to remain viable.

“In the last seven years, we’ve lost about 100 institutions—closed, merged, or whatever the case may be,” Loberg said. “I predict that in the next few years we’re going to have 200 to 300 more close.”

CLA Principal Chris Knopik explained to the board that public opinion is spiraling downward, making their recruiting efforts much more difficult. The dismal public opinion numbers appear to…

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