Dear Bargaining Unit Members
In preparation for bargaining, we commissioned a financial analysis of Oakland University from the national AAUP. Dr. Rudy Fichtenbaum, Professor Emeritus of Economics at Wright State University and past president of the national AAUP, conducted the study. His analysis, covering the period from fiscal years 2014–2020, is posted on the OU AAUP chapter web site (direct link https://oaklandaaup.org/res/FinancialReport_OU2021.pdf). We encourage everyone to take some time to read this analysis as it offers a thorough review of Oakland’s financial situation, provides a straightforward explanation of the various components of the university’s financial statements, and makes informed comments about the possible financial effects of the pandemic.
This report confirms that Oakland’s financial state is strong. Oakland’s net assets (the difference between assets and liabilities) have grown steadily and consistently from 2001 to 2020. Of course, the full financial impact of the pandemic is not yet known, but the university came into the pandemic well-positioned to weather the crisis, and federal Covid-19 stimulus funds have undoubtedly offset some of the lost revenue.