LINCOLN, Neb. (KOLN) - University of Nebraska Chancellor Ronnie Green outlined the budget reduction plan in an Aug. 20 memorandum to the Academic Planning Committee.
The plan, which is in response to impacts from the COVID-19 pandemic, represents a three-year cumulative reduction of $38,254,184 — an estimated 8.2 percent of the university’s budget. Target reductions are $15.7 million for fiscal year 2021, $8.8 million for 2020 and $13.7 million for 2023.
In the message, Green said that, while the university has experienced significant short-term losses in revenue and increases in expenses in the past six months, it remains in a very strong financial position.
“We are, and will be, continuing to achieve across all our mission areas in ways that are inspiring and important,” Green said. “I truly believe that we will emerge from this period with a clear reaffirmation of our purpose and value as an institution. It is nonetheless important that we also plan in a thoughtful and responsive manner for the period ahead of us.”
The Academic Planning Committee approved the general budget framework on Aug. 24. The framework was released to the public on Aug. 25.
The memorandum and a complete overview of the budget reduction proposal are available here.
Key dates in the upcoming budget reduction process timeline include:
- Late August — Non-academic budget reduction proposals made public
- Sept. 2 — Chancellor announces academic budget reduction proposals to APC
- September to October — APC open hearings and deliberations
- November — Chancellor deliberations and decisions. Also public announcement of accepted recommendations
- By June 30, 2021 — Proposals integrated into university budget
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University budget plan calls for $38.3M in reductions through 2023 - KOLN
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