Monday, April 1, 2024

The UMaine System says its budget situation is improving, after years of shortfalls - Robbie Feinberg, Maine Public

The University of Maine System is reporting an improved budget situation, after years of deficits and declining enrollment. The system's vice president for finance, Ryan Low, told the system board's finance committee on Wednesday that for the first time since 2014, all campuses are projected to balance their budgets for the next fiscal year without relying on system reserves. Two campuses — the University of Maine at Augusta and the University of Maine at Presque Isle — are expecting an operating budget surplus.