University of Nebraska-Lincoln Chancellor Rodney D. Bennett recently announced a plan to cut $27.5 million from the school’s budget by the end of 2025. This move comes after ongoing efforts to tackle a structural deficit spanning multiple budget cycles.
In his letter, Bennett emphasized the need for a formal budget reduction process. He plans to convene the Academic Planning Committee (APC) this week to outline strategies for addressing budget challenges. The APC will examine academic programs for potential cuts or mergers, focusing on enhancing UNL’s strengths.
Bennett indicated that many departments, including the Office of the Chancellor, will face changes. To begin alleviating financial strain, the university will likely introduce a Voluntary Separation Incentive Program (VSIP) this fall. They will also extend a hiring freeze, allowing only essential positions to be filled.
Bennett expressed gratitude for the dedication of faculty and staff during these uncertain times. He stated the aim is to make UNL more efficient and better positioned for future success.
Interestingly, in the context of higher education, recent studies indicate that many universities are grappling with similar budget issues due to a decrease in state funding and enrollment challenges. A survey by the American Association of State Colleges and Universities (AASCU) found that more than 60% of institutions plan to implement budget cuts this year.
The ongoing situation reflects a broader trend affecting higher education, highlighting the importance of adaptability in these challenging economic times.
For more details, you can read the full letter from Chancellor Bennett here.
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