Oct. 7, 2005, Findlay, Ohio – The University of Findlay balanced its budget by over $1 million for the fiscal year which ended June 30, 2005, paid for $3 million of projects form the operating budget, reduced indebtedness by $3 million, and increased net assets by $5 million.

The University Board of Trustees reviewed information and took action at its meeting on Oct. 6-7. Thirty-four regular trustees and three special trustees attended the two-day meeting.

The Board approved a balanced budget for the fiscal year 2005-06,which began July 1, 2005. The budget reflects plans to focus on academic and student programs and reduce indebtedness by over $2 million during the year.

A forensic science major has been added and the University’s plan to offer a doctor of pharmacy degree was endorsed by team from Higher Learning Commission of the North Central Accrediting Association.

To further strengthen academic programs, 10 new full-time faculty members have been appointed in the last two years and several are expected to be added for next year.

“We had an excellent meeting” Board Chairman C. Richard Beckett said. “We are improving finances at an exceptional rate while also systematically strengthening the academic, teaching, and student programs of the University. Trustees are pleased with the progress and direction of the University.”