• July 24, 2014

College of Santa Fe Declares Financial Emergency

The College of Santa Fe, in a move aimed at staving off insolvency by the spring semester, has declared a financial emergency. The announcement by the New Mexico college is a precursor to a plan to cut staff members’ work hours and pay by 25 percent.

In a written statement, college officials said the cuts were needed because the state’s budget troubles had thrown a roadblock in front of a planned rescue of the college by New Mexico Highlands University, a public institution. The university has been negotiating with the college since December.

The university’s plans called for it to infuse money into the liberal-arts college, which has a curriculum focused on the creative arts, by acquiring some of its land. But Gov. Bill Richardson, a Democrat, has now asked that the land deal be delayed. —Goldie Blumensyk

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