Saturday, December 27, 2014

UNM president outlines budget woes for regents - Mike Bush, ABQJourna

Bob Frank, the president of the University of New Mexico, stood before the Board of Regents on Friday and said he had some “rather dismal news.” Indeed. Just a few months ago, he reported that the state expected an increase in new money of $285 million for the coming budget year. Now, with oil prices on a long downward slide, the adjusted estimate of new money is down to $141 million. No one really knows how far oil prices will fall before they stabilize, Frank said. But one thing is sure: A big slice of UNM’s budget comes from oil revenues that flow into state coffers where the money is appropriated by lawmakers.

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