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VMI closes FY24 in surplus on E&G side; board hears plan for strategic rollout
Summary
VMI reported a $2.16 million surplus on the education and general side for fiscal 2024, better than the projected deficit, while auxiliaries and athletics ran smaller-than-projected deficits; staff presented a strategic plan with 15 priority objectives, 48 tasks and 122 SMART metrics for monitoring progress.
VMI’s finance team told the Board of Visitors that fiscal 2024 closed better than forecast: the E&G (education and general) side ended with a $2.16 million surplus versus a projected $5.6 million deficit, driven by vacancy savings and additional state affordability funding.
"We ended the year with a $2,160,000 surplus," the finance presenter said, summarizing…
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