In case you missed it, Chancellor Ronnie Green outlined projected budget challenges the university faces through 2023.
Announced in a June 19 message to campus, the total budget shortfall the University of Nebraska–Lincoln faces over the next three years is $38 million, or 8.2 percent of the current $465 million state-aided budget. That total includes $25.8 million in budget revenue declines and a carryforward shortfall of $12.2 million.
“While managing this level of reductions will not be easy and will require hard decisions and implementation, UNL stands in a considerably stronger position than many of our colleagues in other institutions of higher education which are facing much more severe budget impacts,” Green said.
The university’s COVID-19 Budget Advisory Committee has started to address reductions to start off-setting the budget shortfall. The University of Nebraska system has also launched three steps to assist with the process, including:
A voluntary program that allows staff to reduce hours and salary to 75% of current totals while maintaining full benefits;
Consideration by the University of Nebraska Board of Regents of a targeted furlough option, primarily for units that are revenue based; and
NU Credits of $63 per month will be eliminated for employees with base salaries of more than $130,000 and for all employees hired after July 1.
The overall budget for the NU system will be discussed during the Regents’ June 26 meeting. Green said UNL will host town hall meetings in July to discuss the budget framework and the process that will be used to evaluate reduction proposals. Starting in August, the budget discussion will follow the university’s shared governance process before final decisions are made.
Additional details will be announced.