LOUISVILLE, Ky. (AP) – The University of Louisville’s interim president is pledging drastic belt-tightening steps to deal with a $48 million budget shortfall at the school.
The Courier-Journal (http://cjky.it/2lnvY9S ) reports that interim President Greg Postel told UofL trustees recently that a 4 percent shortfall means administrators will need to cut up to $48 million to balance the budget.
He says he hopes the task can be achieved without major layoffs and changes to programs.
As a result, Postel says no more than 25 percent of open positions at the university will be filled. Also, renovation and deferred maintenance projects will be put on hold, salaries will remain flat and administrative and expense reductions will be increased.
A budget draft for the 2017-2018 fiscal year should be reviewed by trustees in May.
Information from: The Courier-Journal, http://www.courier-journal.com
Copyright 2017 The Associated Press.