University to discuss new budget cuts, additions

Former Murray State President Randy Dunn formed 12 budget review teams to evaluate expenditures at the University and to cut almost $6.2 million from the budget last semester.

Now, a little more than six months after the final recommendations were presented to the Board of Regents, the budget task force is once again looking to cut another $3 million from the 2014-15 budget and find ways to earn extra revenue.

Interim President Tim Miller formed several sub-committees in charge of coming up with recommendations to save the University approximately $3 million in the 2014-15 fiscal year. The recommendations from these committees will be presented to the Board of Regents in December.

He said the University will also need to make cuts or increase revenues to cover approximately $700,000 in increased health insurance costs and approximately $1.1 million to make up for a gap in the budget that had previously been covered by the reserve fund.

Miller said the final list of recommendations that will be presented to the board should be finalized in about two weeks.

Tim-Miller-headshot

Miller

“Some of the recommendations are going to be real general,” Miller said. “Administration are going to look at recommendations to determine actual savings.”

In an email sent to the Murray State community, Miller wrote, “Budget Task Force committees will soon be making recommendations on how Murray State University can reduce expenditures, increase revenues and become more efficient in our operations as we begin the preparation of our 2014-15 annual budget. In addition to our committees, we seek your comments and suggestions concerning how to better improve the University in meeting our mission.

You are certainly more aware in your day-to-day employment or student environment of potential savings or improvements that need to be made than I am.”

Miller encouraged emails with recommendations on how to save money across campus.

The final budget recommendations will be presented at the Dec. 13 board meeting.

 

Story by Meghann Anderson, News Editor