Given the projected revenue declines, how much will the University need to cut from the 2010 budget to balance it?
Altogether, the projected revenue shortfalls noted above total about $9 million for fiscal year 2010 (July 1, 2009 – June 30, 2010). By itself, the employee compensation freeze announced in February is not enough to cover this budget shortfall. Additional, disciplined operating cuts are required. We are in the middle of intense analyses to determine how best to carry out these cuts and balance the budget. All areas of the University have been affected by the need to contain and reduce costs. While academics and student life are expected to be impacted less than extracurricular and operational support departments, the entire community will have to cooperate in reducing costs, finding efficiencies and restructuring programs.
