Concordia U's building boom was a bust for President George Heider, who resigned after the Illinois institution racked up a reported $50 million in debt, a $6 million operating deficit, and experienced its first layoffs in 139 years.Concordia Concordia (kōng-kôr`thyä), city (1991 pop. 116,491), Entre Ríos prov., NE Argentina, a port on the Uruguay River. U's building boom was a bust for President George George, river, c.345 mi (560 km) long, rising in a lake on the Quebec-Labrador boundary, E Canada. It flows N through Indian Lake (125 sq mi/324 sq km) to Ungava Bay (an arm of Hudson Strait). Heider, who resigned after the Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. institution racked up a reported $50 million in debt, a $6 million operating deficit, and experienced its first layoffs in 139 years. The Lutheran school's new learning center, student center, athletic stadium, and parking garage cost Concordia millions more than had been budgeted. Additionally, Heider reportedly granted scholarships to church workers and dipped into the annual operating budget Noun 1. operating budget - a budget for current expenses as distinct from financial transactions or permanent improvements budget items, operating cost, operating expense, overhead - the expense of maintaining property (e.g. to cover them. |
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