BLOOMINGTON, Ind. (AP): Indiana University’s treasurer says financial models show the school will be operating at a net loss by of about $70 million by 2021.

University Treasurer Don Lukes provided the information to the IU Board of Trustees last week. The (Bloomington) Herald-Times reports that Lukes’ news caused concern for some board members. One trustee asked if celebrating the school’s bicentennial in 2020 was still feasible and if construction projects should be postponed. IU President Michael McRobbie said plans are flexible and could be scaled back if needed.

Another trustee asked if IU can still accomplish goals it has set for itself in the next four years. IU vice president and chief financial officer John Sejdinaj said yes but “we have to work at it.”