UMaine System Reports $3 Million Budget Shortfall - US News

The University of Maine System says it is facing a $3 million budget shortfall despite a tuition increase and an increase in state funding despite a tuition increase and an increase in state funding. The Portland Press Herald reports documents show staff is recommending the system dip into campus reserves at UMaine Augusta, UMaine Machias and the law school in Portland, as well as using system reserves, to cover the shortfall. System Chief Financial Officer Ryan Low says the budget is overall about where they expected as the system works to recover from financial shortfalls. https://www.usnews.com/news/best-states/maine/articles/2019-03-14/umaine-system-reports-3-million-budget-shortfall