Statement from President Raines About State Budget Cuts
For release: Mar. 11, 2003
For press information, contact Curt Guenther

As expected by The University of Memphis, and confirmed by Governor Bredesen in his March 10th speech about the state budget, the University will have a $9.6 million decrease in its appropriations for next academic year. We have submitted contingency plans to cover the deficit.

Initial plans for The University of Memphis had to be drawn up quickly with statements of the significant impacts on positions that would be lost. In our contingency plan, we have reported 74 staff and faculty positions would be lost if we do not get additional dollars from tuition increases and from other cost-cutting measures on campus.

We expect the Tennessee Board of Regents to decide the tuition increases at their March 27-28 meeting on our campus. We continue to review all the operations at The University of Memphis to curtail costs and raise new funds.

We will not have a clear picture of our budget situation until the end of March and will continue to adjust the budget until it is due in Nashville the first week of May. We will make every effort to retain as many positions as possible.

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