Univ. of Iowa releases budget cuts for fiscal year 2021
IOWA CITY, Iowa (KCRG) - The University of Iowa announced budget cuts for the fiscal year 2021 after the state legislature approved cutting funding for public universities back in June.
The Iowa Legislature cut the funding by $8 million, the Board of Regents will be announcing the share of cut during their meeting at the end of July. Until that meeting is held, the University of Iowa is announcing some budget cuts.
President Bruce Harreld made a request to the Board of Regents to cut his base salary by 50% for the rest of the year. This reduction would then be directed towards the Student Emergency Fund, which helps students who experience an event that would negatively impact their academic success, like the COVID-19 pandemic.
“Many of our faculty and staff have worked long hours to support the university mission during the current pandemic and we are grateful for their commitment to excellence and to providing a world-class experience for our students despite our current financial situation,” says Harreld.
The university will also be reducing the General Education Fund for the Hancher Auditorium, having hiring freezes on 32 positions in different areas on campus, and salary freezes for around 4,200 employees.
“I’m also confident Hancher Auditorium can maintain its standing as [a] national leader among university performing arts centers while transitioning slowly to being self-sustaining,” says Harreld. “Hancher leadership and the entire team is first-rate, and I look forward to their continued prominence within our community, the state, and region.”
Some colleges and units on campus have already announced recent budget cuts due to the COVID-19 pandemic.
“We are disappointed to be in this position, facing challenges from the pandemic and a cut in state support that we could not have imagined just six months ago,” says Harreld. “Each of us must make budget decisions that protect the core mission of the university and set us up for success moving forward. These decisions directly impact the lives of members of our community and it is a sad moment.”
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