MU moving funds to cover drop in state funding
Because of recent vetoes and budget freezing from Governor Nixon after Missouri’s revenue numbers fell short, on Thursday MU Chancellor Bowen Loftin announced officials are making some changes.
On Thursday the university said it is moving more than $3.8 million to cover the funding loss. The state’s fiscal year ended in June. Overall revenues dropped by one-percent compared to 2013 and ended up more than $300 million short of expectations from Gov. Nixon’s office.
Each MU division is now facing cutbacks or spending restrictions. That also includes departments like residential life, which does not even use state funds.
A link the full statement from Chancellor Loftin is available here.
