Duke administrators offered the clearest picture yet of the institution’s financial outlook Thursday, unveiling a five-year model to weather mounting pressures from federal funding cuts, Medicaid shortfalls and new taxes.
Bolstered by its cost-cutting strategy, Duke anticipates operating at a budget surplus through fiscal year 2030 — though administrators expect the size of that surplus to decline.
The Academic Council update came six months after Duke announced sweeping cost-cutting measures in an effort to trim $350 million — roughly 10% of its expense base — by 2030. Executive Vice President Daniel Ennis stressed that the full community was “feeling the pain” incurred by “sacrificed” budgets and staff positions but claimed that Duke is now in a “strong financial position” as a result…