UM System Faces $36.5 Million In Spending Cuts For Current Fiscal Year | KBIA

UM System Faces $36.5 Million In Spending Cuts For Current Fiscal Year

Apr 1, 2020

The University of Missouri System will be out $36.5 million for the rest of the current fiscal year as part of a series of spending cuts Governor Mike Parson announced Wednesday. In a statement, UM System President Mun Choi said, "we must all work together to get past this crisis."

University spokesperson Christian Basi said the system was waiting to see what assistance it might get from the CARES federal relief act before announcing where it would make cuts. Basi also said spending restrictions the UM system announced last week, including restrictions on hiring and raises, would help soften the blow. The current fiscal year ends June 30. 

At his daily press briefing Wednesday afternoon, Parson said the state was forecasting a more than $500 million budget shortfall for the rest of the fiscal year because of the COVID-19 pandemic. Parson said the state would be withholding $180 million from the current budget, and that he hoped to use $315 in federal funding to make up the difference. 

Other state agencies facing cuts include the Department of Transportation, the Department of Natural Resources, the Department of Economic Development and the state Office of Administration.