MU Tells Departments to Plan for 12.5% Cuts for Next Fiscal Year
The University of Missouri in is asking campus departments for plans to cut their budgets: including a 12.5 percent cut next fiscal year.
In an email to employees today MU said division heads need to have a plan for the rest of this fiscal year to the administration by the end of this month to help alleviate the impact of a 17 million dollar withholding of state funds in response to the COVID-19 pandemic. Then, by the end of next month, divisions need to have drafts for budgets for the next fiscal year with a planned cut of 12.5 percent.
The next fiscal year starts July 1st but MU says those plans may also be adjusted in July and August one the financial impact of the pandemic becomes more clear. The email today acknowledged that cuts have been common in recent years too, and says this will be another test of resilience.
The campus has already restricted spending and hiring and eliminated raises and reclassifications, and has said layoffs and furloughs are likely. Administrators also took a 10 percent pay cut that will last until at least July 31st.