November 18, 2008
UMS faces another $8M in cuts
By The Mainebiz News Staff
A decline in enrollment and the national and state financial crises are being blamed for an additional $8 million shortfall for the University of Maine System.
UMS Chancellor Richard Pattenaude told trustees yesterday that the system must cut at least $8 million to make up for investment revenue losses and tuition declines, according to a press release from UMS. The system earlier this year cut $19.1 million, and the additional losses bring the system's overall decline to more than $27 million. Additionally, Gov. John Baldacci's recent curtailment order requesting state agencies and institutions to cut budgets by 10% would cut the system's budget by another $10.6 million, according to the release.
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