LINDSBORG, Kan. (AP) - An audit of Kansas’ Bethany College is showing a positive financial balance for the first time in eight years.
The audit by accounting firm Swindoll Janzen Hawk & Lloyd found that Bethany improved its net operating assets from a negative $5.5 million in fiscal year 2015 to positive $77,000 last fiscal year, the Salina Journal (https://bit.ly/2mnhJAO ) reported.
“This is a big step up for us financially,” Bethany President Will Jones said. “In the near future it will mean more resources we can invest in the college.”
Jones said the administration and board of directors looked for help from alumni and friends, raised $2.3 million from an annual fundraiser and eliminated multiple faculty positions.
Jones also noted that the college’s Good Life free-tuition scholarship, announced in December, has resulted in more than 120 high school seniors applying to the school as of Monday. He said about 300 students have inquired about the scholarship.
“We know that many students apply to multiple colleges now and choose the one which will be the best fit for them,” Jones said. “Realistically, we expect 50 to 65 of those to actually choose Bethany.”
Students awarded the scholarship will receive free tuition if they meet the school’s entrance requirements of a minimum 2.0 GPA and a minimum 18 on the ACT exam. The scholarship, valued at $110,000 per student, will begin next year.
Jones said he has heard that many families are thinking about moving to McPherson and Saline counties because of the scholarship.
“That’s positive for the students and their parents, positive for the college and positive for the community,” he said. “It’s hard to find a win-win-win situation nowadays.”
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Information from: The Salina (Kan.) Journal, https://www.salina.com
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