UNM budget official foresees $7.2M shortfall next year - Mike English, Albuquerque Business

An executive in the University of New Mexico's Office of Planning, Budget and Analysis said Tuesday the school faces a deficit of around $7.2 million for the 2015-16 budget year that begins July 1, according to a report in the Albuquerque Journal. Associate Vice President Andrew Cullen told a regents' committee that lower enrollment has resulted in less tuition payments, and has also affected UNM's bottom line in terms of state funding since a large piece of the higher education funding formula is based on enrollment. "By far, the biggest risk to the University of New Mexico is enrollment," Cullen told the Board of Regents' Finance and Facilities Committee. http://www.bizjournals.com/albuquerque/blog/morning-edition/2015/02/unm-budget-official-foresees-7-2-shortfall-next.html