The University of Memphis is adjusting its budget to accommodate for an expected $6 million loss in state appropriations, said President Shirley Raines.
“It will be a difficult time for us,” Raines told faculty during their Tuesday senate meeting. “But thankfully we did have an enrollment increase, and we did have revenue increases that came from student tuition, and we will be dealing with the American Recovery and Reinvestment Act funds.”
Administrators estimate this fall’s enrollment has jumped 7 percent to 21,700 students.
Tennessee Board of Regents Vice Chancellor for Business and Finance Dale Sims sent an e-mail Friday to higher education officials notifying them to anticipate a 6 percent recurring budget reduction next fiscal year for state universities, community colleges and technical centers under the Board of Regents.
The Tennessee Higher Education Commission has not yet determined how the potential cut in state funds would be distributed among institutions.
“This e-mail was to give notice that it is coming and (administrators) should have it in their minds as they plan for the future,” said Board of Regents spokeswoman Mary Morgan.
The U of M submits a tentative budget to the Board of Regents in July and a revised budget in October based on revenue and fall semester enrollment.
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