PITTSBURGH — Carnegie Mellon University estimated that the Covid-19 pandemic so far impacted its revenue by more than $28 million, according to a letter to the university community from CMU President Farnam Jahanian Tuesday.
The financial hits come from losses including refunds on housing and dining services, online operation costs and various efforts to support those affected by the coronavirus. The number does not include anticipated losses of future revenue, according to the letter.
Jahanian noted in the letter that, despite these losses, CMU remains in “strong financial health.” However, he also noted that the university must prepare for challenging economic times ahead, looking to the Great Recession of 2007-2008 for guidance.
Click here to read more from the Pittsburgh Business Times.
TRENDING NOW:
© 2020 Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/XCUXZC2XYZHCRGNNGKFEX6U3LQ.png)
