I am a salaried employee at a school. The beginning of the year, enrollment was low. The administrative office told me to take every other Friday off. Is it legal for the administrative office to tell me to take the day off due to enrollment AND then penalize me by taking from my leave time hours what days I didn't work because they told me not to?

Yes, if work is low, unless you have a contract or part of a union, they can change your pay, your hours, benefits and every aspect of your pay if they wish

It is not uncommon in today's economy for employees to be taking 20 or 25 percent pay cuts or taking one to four days a month off unpaid