"In the 2019 fiscal year, UM planned on a $7.3 million deficit, Lasiter said. But he said UM took in about $3.4 million more than expected, spent roughly $4 million less than anticipated, and ended the fiscal year with a surplus of about $500,000.
UM has lost 34% of its full-time students since 2011 and has been trying to improve recruitment and retention.
Bodnar also noted he anticipated an uptick in freshman enrollment.
Lasiter said the projected $4 million deficit for the current fiscal year is “based on best guesses” on metrics like tuition revenue that could change. But he said the university has $11 million to $12 million in reserves to cover the shortfall.
It remains unclear how faculty and staffing will fare this fiscal year, which runs from July 1, 2019, to June 30, 2020. Last fall, UM announced plans to shed 58 faculty (without cutting tenured positions) and cut $5 million by 2021. Lasiter said that the 2020 budget would contain “nothing new in terms of reductions,” beyond the implementation of plans announced last fall.
From the 2015 fiscal year to 2019, UM lost 13% of its faculty, or 87 full-time faculty equivalents (not all faculty work full time). Over the same period, UM lost 18% of its classified staff, or 97 FTE, although staff account for a much smaller portion of the budget.
While he considers a $4 million deficit next year healthy, Lasiter said “that stability is off of an expenditure base that is too low, in my opinion.
"We’re stable, but we’ve got to grow.”
https://missoulian.com/news/local/um-chops-deficit-from-million-to-projected-million/article_772e8315-3855-5006-947b-b7e643850858.html#tracking-source=home-the-latest
UM has lost 34% of its full-time students since 2011 and has been trying to improve recruitment and retention.
Bodnar also noted he anticipated an uptick in freshman enrollment.
Lasiter said the projected $4 million deficit for the current fiscal year is “based on best guesses” on metrics like tuition revenue that could change. But he said the university has $11 million to $12 million in reserves to cover the shortfall.
It remains unclear how faculty and staffing will fare this fiscal year, which runs from July 1, 2019, to June 30, 2020. Last fall, UM announced plans to shed 58 faculty (without cutting tenured positions) and cut $5 million by 2021. Lasiter said that the 2020 budget would contain “nothing new in terms of reductions,” beyond the implementation of plans announced last fall.
From the 2015 fiscal year to 2019, UM lost 13% of its faculty, or 87 full-time faculty equivalents (not all faculty work full time). Over the same period, UM lost 18% of its classified staff, or 97 FTE, although staff account for a much smaller portion of the budget.
While he considers a $4 million deficit next year healthy, Lasiter said “that stability is off of an expenditure base that is too low, in my opinion.
"We’re stable, but we’ve got to grow.”
https://missoulian.com/news/local/um-chops-deficit-from-million-to-projected-million/article_772e8315-3855-5006-947b-b7e643850858.html#tracking-source=home-the-latest