University of Nebraska Lincoln confronts 23-million-dollar budget shortage
LINCOLN, Neb. (KLKN) —University of Nebraska-Lincoln announced Friday the school is facing budget concerns.
For the latest fiscal year, the budget concerns come as a result of pandemic related low enrollment, discounted tuition, the cost of multiple graduating classes and less international students opting to attend the school.
Along with an 8% decrease in university enrollment nationally, in 2021 and 2022 UNL suffered lower enrollment then it initially expected.
According to Chancellor Ronnie Green, the school’s fiscal budget has a gap of just over $23 million.
To address the budget concerns, the university may reduce their budget permanently. They said last year’s budget concerns where managed by using less money to operate the school and gaining additional funding resources.
UNL attributes those measures to temporarily rectifying the budget concerns for the last fiscal year. However, they were not enough to aid in this year budget shortages.
According to Chancellor Ronnie Green, new budgeting measures to reduce the shortfall will be considered by the Academic Planning Committee before June 30.
Below is the timeline of the budget rectification plan listed on UNL’s website.
- Chancellor Green will propose to the APC specific reductions, which will be made public by April 14;
- The committee will review the plan and conduct hearings from April 14 to May 26;
- Committee reduction recommendations will be made to the chancellor by May 26; and
- A public announcement of accepted reductions will be made in early June.