The 鶹AV has submitted its plan for how it will deal with a state-mandated budget cut of $4,320,845.
“ In making budget adjustments, the top priority is to protect the university’s core mission of academics and academic services that benefit students,” said 鶹AV President Dr. Joseph Savoie.
“ We exist to provide quality higher education opportunities to students, and therefore, budget reductions at 鶹AV will not affect the quality of our academic offerings. We are protecting the core functions of the university.”
鶹AV must reduce its budget by $4.3 million due to a drop in state funding caused by plummeting oil revenues. University officials predict more cost cutting measures will be needed next year since state officials have projected a statewide shortfall of $2 billion.
鶹AV targeted budget reductions so as not to affect academic quality.
The largest reduction in budgeted expenditures will be in deferred maintenance and major repairs – $3.2 million.
The university is also reducing funding to information technology initiatives and various outreach services, such as economic development initiatives. Among the centers affected are the Louisiana Immersive Technologies Enterprise and the Picard Center for Child Development. University funds to those centers will be reduced by 4.62 percent of their entire state general funds appropriation. Also being cut by 4.62 percent is university support for athletics.
Travel is being reduced by $200,000, while supplies will be trimmed by $100,000.
Collectively, these actions will reduce the university’s current year expenditures by the targeted $4,320,845, or 4.62 percent.
“We are committed to making this university better for our students and our region. Given these difficult economic times, we will make the tough decisions needed for the 鶹AV to continue to make progress,” Savoie said.