University of Minnesota plans $225 million in budget cuts over two years
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The University of Minnesota is cutting its budget by $225 million over the next two years.
That’s roughly 12 to 15 percent of its allocated operating revenue, as the University said it faces shifting enrollment trends, unpredictable state and federal funding and rising costs. The budget cuts follow the University Board of Regents' June vote to increase this year’s undergraduate tuition by 3.8 percent.
The University said final numbers will depend on a range of external factors. In a statement to MPR News, a University spokesperson said they’re taking proactive steps to address “the significant changes facing higher education.”
“Every campus, college and unit will be part of this work as we engage faculty, staff and academic leaders in a collaborative, transparent review process of our academic and administrative work,” the statement said.
The Office of the President announced in a letter Wednesday it would be shifting to a two year budget-view instead of one. The letter also said senior officials would follow up with each campus, college, school and unit to share details about the cuts.
“These issues are part of long-term sector trends that will continue for the foreseeable future,” the letter said. “This is not a temporary change — this is an institutional inflection point that asks us to think about our work in new and bolder ways.”
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