Withholdings released for MU departments to make up $20 million budget shortfall
MU Interim Chancellor Hank Foley has released a full breakdown of the withholdings from each college, school or division that will be used to make up the university’s $20 million shortfall in its current budget.
College, division or department leaders are now being asked to decide how they will supply those funds by April 28.
As ABC 17 News previously reported, departments across Mizzou are being asked to dip into reserve funds to make up for the university’s $20 million shortfall for the current budget.
The School of Medicine has the highest withholding at over $3 million while the athletics department had one of the smallest withholdings at less than $2,000. A formula was used to calculate the amount; it took into account reserve balances and general revenue.
The grand total for all withholdings is just over $17 million. The other $3 million needed to make up MU’s budget will come from University Hospital reserves, MU spokesperson Christian Basi said.
Earlier this month, Basi told ABC 17 News that each department will either have to defer or cut projects it may have been saving for.
“Leaders will have to take a look and determine of those projects, those large purchases, how do they want to delay it or is this something has to be completely off the table,” he said.
