COLONIE — Siena University is posting a multimillion-dollar deficit this year, while also managing an unexpected new loan.
The situation is not so dire as to raise fears about closing, administrators said. The university has enough cash that it could run for a year without bringing in a cent of new revenue and could make all payments on its loans for four years, according to an analysis by new Siena CFO Julee Gard.
She said the university’s financial situation is strong despite its deficit and an unusual situation involving a donor…