How about cutting staff to reflect its 35% drop in enrollment since 2009:
2009 Enrollment was 23,606
2009 Student to Faculty ratio: 20 to 1
2012 Enrollment was 16,996
2012 Student to Faculty ratio: 15 to 1
According to the Blade, 2013/2014 enrollment was 14,674 (I couldn't find data on student to faculty ratios.)
So their enrollment has drastically declined in 5 years, but their student to faculty ratios have gone down, not maintained. There full-time faculty has remained steady at about 200, so adjunct faculty has declined some about 175, but thats only 10% of their faculty, not the 35% drop in enrollment. Also, their non-instructional employees have increased by 50 (561 to 612) from 2009 to 2012.
Now its possible that prior to the financial meltdown in 2008, that enrollment was in the 15,000 range, so this was just a recessionary bump in enrollment but that means they have to deal with the decline in students just like they dealt with the increase in students - without more government funding.
Some other interesting notes that come from the data found here: https://www.owens.edu/ie/quick-facts.html
50% of their enrollment comes from Lucas County; Wood is next in the teens, then Hancock County at below 10%. Its going to be hard to convince other counties to support a levy when Lucas gets the biggest benefit.
The finances are interesting too: the Financial Aid adds up to more than what their annual budget is, plus they get $36 million from the state. The financial information just isn't adding up.
A county-wide levy in Lucas County raised about $8 million per mil back in 2008; not sure what current valuations would put it at - at least that if not more I would think.
So yeah, the first option is to cut back on staff, tighten it up, and deal with it. Don't coming asking for more taxpayer dollars than they already are getting.