Mayville State Erases Million Dollar DeficitMayville State University has erased a $1 million deficit.
By: Associated Press, WDAZ
The university has been chipping away at the debt the past four years. The college now has nearly $800,000 in reserves.
The debt was largely created by unanticipated fuel costs and a drop in full-time students. The campus foundation also was struggling and much of the deficit was in athletic programs.
Four years ago, a committee appointed by the North Dakota University System chancellor analyzed the school's deficit and outlined a plan to eliminate it. The deadline was this summer.
President Gary Hagen says the campus can now focus on the future.