Scott Scarborough, president of the University of Akron, a public research university in Ohio, has a plan to erase a $60 million shortfall over the next three years. Scarborough is an expert in finance who has improved the financial condition of the University of Texas at Tyler and DePaul University. But this is a bigger challenge.

He was hired in 2014 to cope with red ink. As Crain’s Cleveland Business reported that year, the University of Akron had built up $382 million in debt stemming from a “dramatic campus overhaul carried out under former president Luis Proenza, who stepped down in June after 15 years on the job.” (Its football stadium, opened in 2009, is one of the most poorly attended in the country.)

At the same time, enrollment fell from over 29,000 in 2010 to 26,000 in 2015.

The plan has echoes of proposals we have heard before. Only $40 million will actually be cuts; $10 million will come from raising graduate student tuition and undergraduate fees (the latter an increase of $50 per credit-hour for upperclassmen). And $10 million will come from restoring enrollment. To address enrollment, in May Scarborough announced a “rebranding” of the institution as Ohio’s “polytechnic university.” (At the same time, however, the school announced a boost in its choreography program.)

The savings start with cutting 215 jobs—180 of which are vacant. And dropping baseball. Other steps include efficiency moves such as outsourcing dining services and centralizing course scheduling.

Perhaps the biggest step is one not even mentioned in the latest stories. Last month the Akron Daily Beacon reported that Scarborough is getting tough on internal slush funds. He is going to stop letting departments and schools carry over money from year to year, and will end the practice of labeling funds “to be determined later.” And he is making each school and department responsible for its own benefit packages.

Good luck, President Scarborough.