At a financially challenging time filled equally with promise and opportunity, Rutgers University will be taking steps to eliminate a $125 million budget deficit over the next three years by reducing administrative costs and increasing revenues in various ways, President Jonathan Holloway said in his second annual budget address to the University Senate. “We need multi-year solutions and structural reforms. While I am focused on the current budget, I will not endorse a plan that requires draconian cuts so that we can close a budget hole in a single year,” Holloway said. “I’ve seen what that can do to universities, and I won’t inflict that on this community.”
