Tim Downs, senior vice president for finance and administration and chief financial officer, hosted his final Dollars and Sense meeting May 21. In a campus-wide email sent April 28, it was announced Downs will depart from Ithaca College to be the chief financial officer at the Institute for Advanced Study beginning June 15. 

Ithaca College administrators discussed the college’s ongoing work to achieve a balanced budget by fiscal year 2028 at the May 19 State of the College meeting. Administrators gave updates on college finances and enrollment going into the 2026-27 academic year.

As Ithaca College approaches the end of the fiscal year with a projected $8 million budget deficit, administrators say that the college is on track to eliminate its budget deficit by fiscal year 2028.

Ithaca College administrators asked students, faculty and staff gathered during the Feb. 26 State of the College meeting to “hold on” as they work to reduce the college’s budget deficit through decreasing expenses, increasing revenue and maintaining steady enrollment.