The University of Arizona's projected budget deficit for fiscal year 2025 has been reduced from $162 million to $52 million, according to an online post made today by UA President Robert C. Robbins.
"This anticipated improvement of $110 million in the University’s deficit is preliminary, but marks considerable progress in the implementation of our financial action plan," Robbins said in the post."This is the result of concerted efforts by deans and leaders across the University who worked diligently on their budget plans to address spending trends and to significantly reduce the deficit.
Robbins said in the post that the largest portion of the budget savings will come from reductions in administrative expenses. "As a result of our budget decisions, the University will be in a position to allocate sufficient funds to ensure no college starts FY 2025 in a budget deficit," Robbins said. Robbins said the University will continue to"refine" the 2025 budget framework and will"incorporate the external financial and operational review of Athletics and the University of Arizona Global Campus – along with updated revenue forecasts and the state’s decisions on allocations to universities – when that information is available."
Education Education Latest News, Education Education Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dcexaminer - 🏆 6. / 94 Read more »