Thursday, March 2, 2017

Facing $48M Shortfall, University of Louisville Leader Pledges Belt-tightening - Associated Press

The University of Louisville’s interim president is pledging drastic belt-tightening steps to deal with a $48 million budget shortfall at the school. Interim President Greg Postel told UofL trustees recently that a 4 percent shortfall means that administrators will need to cut up to $48 million to balance the budget, The Courier-Journal reported. He said he hopes the task can be achieved without major layoffs and changes to programs. As a result, Postel said no more than 25 percent of open positions at the university will be filled. Also, renovation and deferred maintenance projects will be put on hold, salaries will remain flat and administrative and expense reductions will be increased, he said.

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