It's time to tighten the belt again at UNL, by buckling down on the budget for fiscal year 2015. Over the past two years, the University has racked up a $4.65 million deficit, money that will be made up in a budget reduction plan, effective immediately.
UNL's Chancellor Harvey Perlman worked with the Academic Planning Committee (APC) to decide what and where to cut.
Staff and faculty are taking the largest hit, with a raise cap. Instead of getting the expected 3 percent raise, they'll receive only a 2 percent raise, which will make up for $3.2 million of the deficit.
University officials say the choice wasn't an easy one.
"It's really important to attract top talent, top faculty prospects, that our salaries remain competitive. We do recognize that is, that is an issue." says UNL spokesman Steve Smith.
Under the advice of the APC, Perlman decided to not withhold a portion of the salary pool for merit based purposes.