Published 16 hours ago • loading... • Updated 8 hours ago
U of M Looking to Reduce Budget by $225 Million
University leaders say the cuts will be spread across all campuses as the school shifts to earlier, two-year budget planning.
On Thursday, University of Minnesota President Rebecca Cunningham announced a $225 million budget reduction over the next two years, acknowledging there will be "difficult choices and conversations ahead."
Facing long-term financial headwinds where operating expenses outpace revenues, leadership framed the cuts as an "institutional inflection point" rather than a temporary setback.
The reduction represents 12% to 15% of the university's allocated operating revenue and affects all five campuses serving 60,000 students across the state.
Administrators are shifting from a one-year to a two-year planning cycle for increased foresight, while the University Senate meets today at Coffman Union to discuss the cuts.
Higher education is grappling with a "demographic cliff" following the Great Recession of 2008, as declining birth rates shrink the pipeline of traditional 18-year-old applicants nationwide.