President Gayle E. Hutchinson called for action in an address to faculty and board members Monday.

Hutchinson voiced concerns at the yearly State of the University Address held in Harlen Adams Theatre at 3 p.m. A major topic discussed was the recent reduction to the school budget.

Due to reduced state funding, the school is experiencing a budget gap of $171 million. The school’s current reserve balance is $42,921,143, a significant decrease compared to past years of approximately $11,000,000.

“It is not sustainable. The well is running dry,” Hutchinson warned.

With the idea of further raising tuition on the table for discussion, the president expressed the need for members to come together to find innovative ways to replenish lost funds. “There are other valuable resources out there to be tapped,” Hutchinson added.

Despite this news, some upcoming events were announced. Among these was the demolition of Siskiyou Hall, which will make room for the large new science building, and the addition of the much anticipated Wildcat statue.

Tisha Cheney can be reached at [email protected] or @orionnews_TC on Twitter.