University of Montana making progress on closing budget gap
MISSOULA, Mont. (AP) — The University of Montana aims to bring down roughly half of its $10 million budget shortfall this fiscal year.
Vice President of Administration and Finance Rosi Keller said Thursday to the university’s budget committee that the school’s financial shortfall is due to a decline in enrollment, but she says the school is making progress on closing that budget gap over the next four years.
The Missoulian reports the University of Montana plans to accomplish that with the recent voluntary staff and faculty buyouts and other savings.
However, Keller says the $10 million does not account for inflationary increases, such as salary bumps and utility hikes, nor does it reflect any additional revenue.
Information from: Missoulian, http://www.missoulian.com