The University of Nebraska Board of Regents gave its approval to a plan stripping $43 million out of the university system’s budget over the next three years.
The plan to cut NU’s state-aided budget, presented by President Ted Carter last week, was proposed in response to the ongoing coronavirus pandemic, which could cause enrollment to plummet this year.
NU previously addressed a $50 million loss that emerged earlier this year after the university closed its campuses in Lincoln, Omaha and Kearney due to COVID-19.
But the ongoing shortfall, totaling about 4.3% of NU’s annual budget, will require some combination of generating new revenue or cost-cutting measures.
On Friday, during a remote meeting of the Board of Regents, Carter said budget cuts prioritize maintaining accessibility and affordability.
“This budget puts our students and the people of Nebraska first,” he said.
NU’s budget will remain relatively flat in the coming fiscal year, 2020-21, with the university implementing a 0.3% cut.
Those cuts will deepen over the next biennium, however, with campuses being asked to cut 1.6% from its budget in 2021-22 and 2.6% in 2022-23.
Regent Jim Pillen of Columbus, the board chair, said he believes the budget will allow NU to emerge from the pandemic and subsequent economic downturn in a strong position.
— to journalstar.com