Due to a dip in enrollment numbers, IPFW will no longer fund Riverfest but it doesn't end there. The University could see more programs slashed in the very near future.
"It became clear as we realigned the budget that we could no longer host Riverfest."
Nicole Wilkins is IPFW's Chief Communications Officer and says fall enrollment saw a 4% drop-off, creating a $4 million dollar hole in the budget.
"We are really looking at projects and events across the board that receive University subsidies to make sure they align with our mission."
One of those events that no loner aligns with the school's mission...
"We've had to no longer support Riverfest."
School leaders announced that the Annual River Celebration is now under water due to the budget constraints.
IPFW has formed a committee to try and balance the budget and look at ways to improve retention.
A group of school leaders will meet later this month and decide which programs align with the University's mission and those that don't, more than likely will get the ax.
Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.