K-12 Tax, Spending & Referendum Climate: Johns Hopkins’ stark economic outlook and planned cutbacks signal what’s to come for Maryland higher education
As the coronavirus began shutting down universities and colleges in March, the financial hit for higher education began piling up. First came refunds of room, board and fees for students. Then universities needed to spend to enable students and faculty to move to online education.
And all the while endowments, which often provide significant revenues for private colleges, were suffering heavy investment losses as the stock market tumbled amid the economic paralysis, and leaders worried they would see dramatic enrollment declines as students opted for less expensive options or no college at all.
Johns Hopkins University announced a series of austerity measures Wednesday after estimating the university and its medical system will have to cut costs by $475 million through June 2021. Separately, the University System of Maryland chancellor has warned of a $230 to $240 million shortfall for the current semester.Notes, links and commentary on Madison’s planned 2020 tax and spending increase referendum plans.
“The data clearly indicate that being able to read is not a requirement for graduation at (Madison) East, especially if you are black or Hispanic”.
Madison has long spent far more than most taxpayer supported K-12 school districts.
