The University of Missouri faces a $49 million budget gap for the 2019 fiscal year and will eliminate 185 positions, laying off about 30 employees, MU Chancellor Alexander Cartwright announced Thursday.
Those job cuts will help the university save about $11 million, Cartwright said.
The chancellor outlined planned cuts to 2019 general revenue allocations for colleges, schools and divisions across the Columbia campus. Those spending reductions will save the university more than $45.4 million, leaving about $3.6 million still to be cut.
The financial gap comes amid enrollment decreases in recent years. Although the university projects a 14.4 percent increase in enrollment for its freshman class next fall, that comes after a larger dip last year.
The university also has dealt with cuts in state funding. Although the University of Missouri System didn’t see any cuts in this year’s state budget, its funding from the state last year was reduced by $36 million.
Still, Cartwright and Rhonda Gibler, MU’s vice chancellor for finance, said they were pleased with this year’s support from lawmakers.
“We are very grateful for all the work the legislature did this year on the higher education budget,” Gibler said in a statement.
Despite budget pressure, Cartwright said the university will continue to invest in students and researchers.
“The future is very bright for Mizzou,” Cartwright said in a statement. “We are focused on student success, strengthening our research productivity and engaging with Missourians to help find solutions to grand challenges. We are making focused, strategic investments to ensure that happens.
Campus level resources will see the largest cut in general revenue allocation, with a reduction of 19.5 percent, or about $6.8 million, from the 2018 fiscal year.
The School of Medicine will see the next largest percentage cut, at about 19.2 percent, or $7.1 million. That is the largest planned cut by dollar amount and includes a change to the state’s allocation for the medical school’s Springfield expansion.
The College of Agriculture, Food and Natural Resources, School of Health Professions, School of Nursing and College of Veterinary Medicine will all see their general revenue allocation cut by at least 10 percent.
General revenue allocation consists of tuition, state appropriation, and facilities and administration costs, according to the university. Most colleges, schools and divisions rely on additional funding sources.