Savings over the past two years and increases in tuition and enrollment would be enough to plug the lion’s share of a projected $12 million hole in the University of Missouri’s budget this coming year. It’s more likely, though, that schools and departments will be asked to reduce expenses again next year.
MU Budget Director Tim Rooney shared various budget scenarios yesterday with faculty members during an annual spring meeting. MU is bracing for a $10 million cut in state funds in fiscal year 2011, which starts July 1. Add on top of that an additional $9.6 million in utility rate increases and other fixed costs next year, plus $2.8 million required for new scholarships and financial aid.
