UMD manages to slash budget deficit in half

By KBJR News 1

May 2, 2014 Updated May 2, 2014 at 6:36 PM CDT

Duluth, MN (NNCNOW.com) - The University of Minnesota says plans to tackle a $9 million budget deficit are working faster than expected.

University officials announced Friday that they've managed to reduce the deficit by half.

Program prioritization, voluntary layoffs and a larger allocation of state funds from the University of Minnesota system are credited for the $4.5 million dollar reduction.

The budget still needs the OK from the Board of Regents in June.

"Most of our students will not see a big change. We're trying to do things more efficiently and thinking very carefully about what we do. There will be some effect on programs, but we're going to ensure every student that started here in a program finishes up in their program," said Andrea Schokker, the executive vice chancellor of academic affairs at UMD.

UMD is optimistic Minnesota lawmakers will approve $2.5 million in funding to eliminate the school's non-recurring deficit for the current fiscal year.

Written by Kevin Jacobsen
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