- Associated Press - Monday, May 23, 2016

BANGOR, Maine (AP) - The University of Maine System is forecasting a budget surplus after years of budget deficits that led to staffing and program cuts.

A report on the latest five-year financial projections to be presented to system trustees Monday in Bangor shows the $7 million deficit slowly shrinking over the next few years until 2021. The budget is then projected to be $400,000 in the black.

The 2021 projection, first reported by the Portland Press Herald (https://bit.ly/22m7MD7 ), relies on certain financial factors going forward, including annual increases in tuition.

That means in-state tuition, which is currently $8,370 at the Orono university, would gradually rise to $9,165 a year by 2021, a 9.5 percent increase.

The system’s budget has faced deficits since the system started its multi-year financial projections in 2009.

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