USM makes additional cuts to balance budget - Mike Reagan, WMTW

The budget for the University of Southern Maine has been completed with a final round of cuts. USM had a $14 million hole to fill to balance the budget for the new fiscal year beginning on July 1, said Robert Caswell, director of media and community relations for USM. Earlier in the year, $4.5 million in cuts were made. The University of Maine System gave $7 million to help, followed by a new round of $2.5 million in cuts, Caswell said. The new cuts included five faculty members who resigned voluntarily, 11 faculty members who retired and one staff layoff. Other cuts in operating expenses in other funds combined with the layoffs and retirements add up to $2.5 million, Caswell said. http://www.wmtw.com/news/usm-makes-additional-cuts-to-balance-budget/26485234