We’re constantly evaluating the conditions and doing our best to perform the complex analysis of all the factors we must consider. As I noted last week, the evolving COVID-19 situation for U-M continues to call for more change. The current estimated anticipated losses of $400 million to $1 billion for the rest of the calendar year may change as well. https://president.umich.edu/news-co...id-19-update-from-president-mark-s-schlissel/
We’re constantly evaluating the conditions and doing our best to perform the complex analysis of all the factors we must consider. As I noted last week, the evolving COVID-19 situation for U-M continues to call for more change. The current estimated anticipated losses of $400 million to $1 billion for the rest of the calendar year may change as well.
Michigan is one of the most fiscally healthy public universities (has an annual budget almost 4X that of Pitt) but this number is still staggering.
Note this loss includes projections to both their Dearborn and Flint campuses. Both separately have significantly larger student enrollment than Pitt's 3.5 regionals combined (I'm counting Titusville as 1/2) and they offer more academic programs including graduate degrees. Dearborn has a large campus however Flint is a commuter campus (didn't have dorms until 2007) and offers no athletics so it likely has less of a physical plant.
Perhaps most importantly, the projected losses also includes Michigan Medicine which, like many hospitals and medical centers, is likely taking significant loses. Shielding the university from the fiscal uncertainties of operating a medical center is one of the reasons Pitt spun off UPMC back in the late 90s. But while Pitt will be shielded from entanglement in any UPMC loses (though UPMC is so large now it has substantial means to help see it through although it's investment reserves are taking a beating), it certainly may impact the $200+ million that UPMC provides to Pitt's medical school and other health science schools each year. Michigan Medicine essentially only operates one medical center in Ann Arbor, and it was recently operating at a very healthy margin (edited to update from old numbers) but it doesn't have the same scale to of a major network of hospitals and providers to help withstand major financial hits it may be taking.
