U of M prepares for future budget cutsby Tim Post, Minnesota Public Radio
Despite a boost in funding from the federal stimulus bill, the University of Minnesota is making budget cuts now to prepare for future funding shortfalls.
St. Paul, Minn. — Federal stimulus money seems to have saved the state's higher education institutions from deep cuts over the next two years.
But Robert Bruininks, president of the University of Minnesota, says the U needs to cut its budget in coming months to prepare for potential shortfalls more than two years away.
"Every single unit of the University is undergoing a five to eight percent modeling exercise, we're going through every single one of their plans to see what makes sense to do," Bruininks said. "Some will be cut more, some will be cut less."
Bruininks said he's asked academic leaders to increase the U's revenue now by aggressively pursuing grants available through the federal stimulus package.
The U's budget will be on the agenda when the University's Board of Regents meets today.