Howard Bunsis, Professor of Accounting at Eastern Michigan University, has performed an independent analysis of Wayne State University’s finances.

The full report can be found here.

A summary report is here.

Summary conclusions:

• Wayne State University is in a solid financial position

• This conclusion is supported by solid bond ratings, which are assigned despite the declines in enrollment, and are supported by strong reserves and solid annual excess cash flows

• The State appropriation is not the largest revenue source, but it has been increasing through 2024, and is expected to increase solidly in 2025

• Faculty salaries are not keeping up with inflation, and are lower than peer university averages

• The numbers of and salaries to administrators are increasing much more and much faster than for instructional faculty

• This analysis shows that the University easily has the financial means to meet AAUP-AFT demands based solely on its excess cash flows, without needing to even use any Unrestricted Reserves