University of Maine System Budget Plan Posted

Written by Lindsey Mills

Please remember these snippets of articles are for informational purposes only. To read the whole article go to the link at the end.

BANGOR - The University of Maine System is considering a plan to balance the budget for the upcoming fiscal year.

The proposed budget looks to cut 157 positions and take $11.4 million from the emergency reserves.

Officials say it’s a plan they’ve been discussing for some time now.

“We have accumulated about a $15 million budget stabilization fund, or a rainy day fund, and it’s raining,” said Chancellor James Page. “And it was time to take some of those and use them so that our campuses can have enough time, a one or two year period to plan, to make those reductions that they need to make in a way which doesn’t compromise, or unduly compromise, the core mission of the campus.”

For more on this article: University of Maine System…

To comment about article go to www.forum.acsum.org

With $183M in reserve, UMaine System pressured to either save money or faculty

Article written by: Nell Gluckman

Please remember these snippets of articles are for informational purposes only. To read the whole article go to the link at the end.

BANGOR, Maine — At the center of protests over a dozen faculty layoffs at the University of Southern Maine on Friday and into Monday is $183 million the University of Maine System holds as reserve funding.

System officials say dipping into reserves would only delay current financial problems and detract from planned projects, but critics, like the rallying students and faculty, believe this funding should be used to stave off layoffs.

“There’s no budget crisis,” Susan Feiner, a professor of economics and women and gender studies, told attendees at a rally at USM on Monday. “They’re lying… They’ve got historic reserves. There’s no need for cuts.”

For more on this article: With $183 in reserve..

To comment about article go to www.forum.acsum.org