Board of Regents talk budget and Innovation Campus

The University of Nebraska Board of Regents held their regular meeting today.  They discussed the budget and Innovation Campus. 

University officials say when it comes to state revenue they're facing the lowest growth in 29 years.  President of the University system James Milliken says they recognize the budget challenges but have started identifying areas to reduce costs and be more efficient.

He says the main focus will be towards the future.

“The state is in a difficult economic situation right now and the legislature is going to be faced with a tough fiscal situation and tough budget and the University is going to have to play its part but one thing we got to remember is we have a huge amount of momentum and the state of Nebraska is what benefits from that,” says Milliken.

Part of that momentum includes the highest enrollment in years as well as building Innovation Campus on the old state fairgrounds.

Friday, the board approved the master plan for getting the ball rolling on developing the campus.  Regent Tim Clare says this is the first step in authorizing the development of the campus. 

“Once we get the lease in place, how we got to work to establish infrastructure and then start working to start occupying bids and moving forward with the ultimate goal is to provide research and opportunity again for the state,” says Clare.

Chancellor Harvey Perlman announced a pilot program that will give tenured faculty an early retirement option.  It will provide 1-year salary buyouts to tenured faculty members who are 62 years and older and have 10 plus years of service.  They have until Nov. 1 to decide to participate in the program.