By Jacquelyn Zeman – Managing/News Editor
Due to the decline in enrollment, Grand Rapids Community College will be offering some faculty members buyouts in an attempt to save $5 million over the next decade.
According to Lisa Freiburger, Vice President of Finance and Administration, the college has been considering this plan for some time.
“This is budget related,” Freiburger said. “There was a subcommittee developing it over the summer, contemplating the pros and cons.”
Freiburger said she is confident that the school will be able to save $5 million over the next decade.
The plan is to be offered to GRCC employees who have been at the school for 15 years or more, and GRCC will not accept any more than 20 buyout applications in 2015.
The plan went out after it was approved during last Monday’s board meeting. Out of the seven trustees, Dr. Richard Ryskamp and Richard Stewart both voted against the proposal.
Any faculty member interested must file by filed by Dec. 5 for the first round of buyouts. The employees will be offered 40 percent of their next year’s salary as a part of the buyout.
“What we are hoping is to smooth out those that are leaving so we have the ability to plan appropriately to make sure we are balancing with financial savings,” Freiburger said. “Which is supporting the institution, which is very important to us.”