- Associated Press - Friday, March 10, 2017

COLUMBIA, Mo. (AP) - The University of Missouri’s campus in Columbia will use reserve funds to cover a nearly $20 million budget shortfall.

The Columbia Daily Tribune reports (https://bit.ly/2n7ulRi ) the use of reserve funds is in response to Gov. Eric Greitens restricting state funding from higher education institutions for fiscal year 2017, including $31.4 million for the University of Missouri system.

Interim Chancellor Hank Foley sent a campus-wide email Wednesday announcing the plans.

University spokesman Christian Basi says the decision means some projects or equipment purchases might be delayed or not completed.

Foley says the vice chancellor for finance is calculating how much each school, college and division will need to cut to cover the $20 million gap.

Basi says he expects the calculations to be complete in the next couple of weeks.


Information from: Columbia Daily Tribune, https://www.columbiatribune.com



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