CAZENOVIA — The Cazenovia College Board of Trustees has determined that due to financial concerns, the College will not be enrolling students for the 2023-2024 academic year, according to a statement.

The College is working toward closure prior to the start of the Fall 2023 semester. The College will complete the Fall 2022 semester as scheduled and will be fully operational in the spring holding classes and events, including athletics and other normally scheduled activities. During the Spring 2023 semester the College will also assist students with their plans for transferring for Fall 2023. 

 “We’re deeply disappointed that it has come to this,” said Ken Gardiner, chair of the Cazenovia College Board of Trustees. “Considerable time and effort have been spent on improving the College’s financial position over the past several years. Unfortunately, the headwinds and market conditions were insurmountable, leading to a projected deficit of several million dollars for next year. As a result, the College won’t have the funds necessary to be open and continue operations for Fall 2023 and beyond. Our plan is to be open for the Spring 2023 semester during which faculty and staff will work with students to help them transfer to another college for the fall.”

 In a release, the college says the decision was accelerated by the global pandemic and skyrocketing inflation. 

“The population of college-aged individuals has been and continues to shrink making it hard for small private colleges like Cazenovia to maintain enrollment levels. Since its peak with nearly 1,000 students on campus, Cazenovia’s enrollment has dropped by over 40 percent,” a release notes.

Further, “being a small college without a large endowment has made the College’s challenges formidable. We have worked tirelessly to strengthen the financial position of the College through fundraising campaigns, adding graduate offerings, streamlining transfer pathways, and exploring alternative options,” stated David Bergh, president of Cazenovia College. “Unfortunately, these efforts did not create results to ensure long-term viability for the College.”

 To date, the college has entered into agreements with higher education institutions that will provide pathways for students to continue their studies beginning with the Fall 2023 semester and will be assisting students with their transition. 

Agreements include partnerships with: Daemen University, Elmira College, Excelsior University, Hilbert College, Keuka College, LeMoyne College, State University of New York College at Oneonta, Utica University and Wells College.

Other institutions will be added as agreements are finalized, the college stated.