Southern Oregon University leaders told their governing board that the campus faces “significant liquidity risks” and could fail to meet obligations by spring 2027 without new financial resources. Administrators reported a projected rapid decline in cash driven by persistent labor spending (~$5.7M monthly) and variable tuition and state revenues, forecasting a negative cash balance by March 2027 under current trajectories. Officials have frozen hiring and travel and are pursuing state-level discussions to bridge shortfalls. SOU also flagged long-term enrollment declines — student credit hours are down 35.8 percent from 2015–16 — compounding the near-term cash‑flow squeeze. Trustees, state policymakers, and system leaders will need rapid fiscal and policy responses to avoid service disruptions, program cuts, or emergency consolidations.