Friday, May 1, 2015

U of C braces for budget cuts - STEVEN R. STRAHLER, Crain's Chicago Business

The University of Chicago is preparing for budget cuts, aiming to trim administrative expenses as it confronts higher debt costs associated with ambitious building programs and other spending. In a memo to faculty and staff yesterday, Provost Eric Isaacs said the Hyde Park school will "develop and implement a range of cost containment measures" for the fiscal year beginning in July. He said reductions would be tilted toward nonacademic units, with overall academic outlays continuing to grow. An insider said academic units are tentatively in line for a 2 percent drop in overhead, while nonacademic ones are looking at proposed cuts of 5 or 6 percent.

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