Budget shortfall of $3 million expected at UMaine System - NOEL K. GALLAGHER, Press Herald

Despite a tuition increase, increased enrollment and a $10 million increase in state funding, the University of Maine System is planning to dip into reserves to close a roughly $3 million shortfall for the fiscal year ending in June 2020. Staff is recommending the system close that gap by dipping into campus reserves at UMaine Augusta, UMaine Machias and the law school in Portland, and using about $1 million in system reserves, according to budget documents prepared for the system’s finance committee. The committee will review the budget for the first time on Tuesday and vote on a recommendation to the full board of trustees at their May 3 meeting. The trustees will vote on the proposed $573 million budget at their May 19-20 meeting. It is a 3.8 percent increase from the current $552 million budget. https://www.pressherald.com/2019/03/13/budget-shortfall-of-3-million-expected-at-umaine-system/