UNL Chancellor Ronnie Green has begun the budget cutting process with the Academic Planning Committee to address a $23.2 million budget shortfall by 2024.
The shortfall is due to declines in revenue attributed to total enrollment. The declines are largely due to decreased enrollment, multi-year record graduating classes, continued challenges on international enrollment post the global pandemic, and increased use of remissions to discount tuition.
Permanent reductions are needed to address the shortfall by fiscal year 2024, which begins July 1, and in coming years. Green informed the Academic Planning Committee that university leaders project they can recover $12.42 million of the shortfall given conservative estimates of revenue attributed to future enrollment.
The remaining $10.77 million shortfall will require permanent budget reductions.
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