Saturday, March 30, 2024

Marquette University Aims To Cut Budget By $31 Million In Next 6 Years - Michael T. Nietzel, Forbes

The leadership of Marquette University, a Jesuit institution in Milwaukee, outlined plans on Monday to reduce its annual budget by a cumulative $31 million by Fiscal Year 2031. That total represents about 7% of Marquette’s operating budget. In the near term, the university has set a goal of cutting its operating costs by $11 million in FY 2026, equal to approximately a 2.5% reduction. The announcement, first reported by the Milwaukee Journal Sentinel, came in the form of a message to the campus by Marquette President Michael R. Lovell; Calley Hostad, Chair of the Staff Senate; and Chris Stockdale, Chair of the University Academic Senate.