Miami University says it is “financially strong” despite reporting a $16 million gap between its revenue and expenses for the fiscal year 2023. The report was shared with faculty Feb. 6 at the University Senate Annual Budget Forum.

The report also notes that state appropriation for the university remains below what it was in 2001, with rising tuition costs serving as the university’s main source of income that it uses for paying employee salary.

The Senate cites declining numbers of high school graduates, increased affordability concerns, rising scholarship costs, and a lower intake of international students as reasons for the drop in net revenue. The report warns that continuing stress on the school’s finances will eventually lead to financial problems that have affected other universities in Ohio, such as Miami’s athletic rival Ohio University.

Miami Provost Elizabeth Reitz Mullenix’s summary at the end of the report indicates that the university will have to use some of its reserve funds this year. She suggests that investments be made in faculty research and campus infrastructure to support the university’s future success.