Findlay, Ohio, April 29, 2005 – The University of Findlay expects to balance its budget and reduce indebtedness by $3.7 million for the fiscal year ending June 30, 2005.

Approximately $2.5 million in academic and physical plant projects are planned for the summer and the next fiscal year. Projects include a new heating and air conditioning system for Shafer Library ($400,000), improvements in residence halls ($300,000) and a new chemistry laboratory ($300,000). Academic projects and general maintenance and improvements throughout the campus are expected to cost about $1.5 million.

The budget for next year is projected to be balanced. It reflects plans to further strengthen academic and student programs and further reduce indebtedness.

Plans to offer doctor of physical therapy and doctor of pharmacy degrees have been approved by the Ohio Board of Regents and are before national accrediting agencies.

The University Board of Trustees reviewed the above information at its meeting on April 28-29. Thirty regular trustees and three special trustees attended the two-day meeting.

“We had a good meeting,” Board Chairman C. Richard Beckett said. “Trustees are pleased with the progress and direction of the University. We are improving finances and systematically strengthening the academic, teaching, and student programs of the University.”