Tuesday, March 17, 2015

Cash-strapped UMaine System faces choice: tap emergency fund or raise tuition - NOEL K. GALLAGHER , Press Herald

The university system's top financial officer tells trustees that if tuition doesn't increase, $9 million will have to come from reserves to balance the 2015-16 budget. If it doesn’t raise tuition, the University of Maine System would have to take $9 million from emergency reserves to balance the budget next year, according to the system’s top financial officer. “This level of deficit spending is not sustainable and is stark evidence that the current operating model is broken,” finance and administration Vice Chancellor Rebecca Wyke wrote in a presentation for the UMS Board of Trustees Finance Committee. http://www.pressherald.com/2015/03/06/umaine-system-will-have-to-tap-reserves-to-avoid-tuition-hike/

No comments:

Post a Comment