An independent audit commissioned by Duke University’s AAUP chapter concluded Duke is in “very strong financial condition” and questioned recent employee buyouts and planned layoffs. Howard Bunsis, the accounting professor who conducted the analysis, cited rising net assets, strong cash flows and roughly $14 billion in unrestricted reserves. Faculty and unions plan rallies, arguing administration cut jobs despite ample discretionary resources and robust credit ratings. The audit spotlights a growing national debate over university austerity moves versus available institutional liquidity; Bunsis based his findings on Duke’s audited financial statements through fiscal 2025.