As we continue to plan for a return to more normal operations in the fall semester, we are writing with some updates about vaccination expectations and requirements as well as our return to more in-person work and learning.
As the first group of students return to campus this week and help remind us all of our shared educational mission, we write to provide you with an update on our preparations for returning to the campus workplace.
We write now with a small view into our financial future. Before we do, we thought it worth reminding you of our current fiscal state. In an earlier note we described how we are projecting a $13.0 million deficit for this year ending June 30, 2020, having been hit hard by the stock market downturn and a number of other factors. These include our obligation to refund unused room and board for undergraduates as well as fees from Study Abroad students, expected shortfalls in philanthropy, and lost revenue from auxiliary sources like the ski areas and bookstore as they needed to close early.