Facing what he called "the most significant budget cuts" in the University of New Orleans' 54-year history, UNO President Peter Fos announced plans Tuesday to trim spending by $12 million to make up for a budget shortfall. The strategy, which needs the state Board of Regents' approval, was triggered by a cut of $9.3 million in the money UNO receives from the state, Fos said, along with increases in retirement costs and such benefits as health insurance.
Since January 2009, the state appropriation for UNO has been cut by about $28 million, he said. UNO's operating budget for the fiscal year that started July 1 is about $111 million. Even though tuition increases allowed under the GRAD Act increased the school's self-generated revenue to $71 million, Fos said it was not enough to offset the loss of state money.
His plan, which two committees helped craft, includes:
Firing 16 staff members, including two who work for Fos.
Leaving 30 faculty vacancies unfilled.
Eliminating assistantships for 26 graduate students.
Cutting the travel budget almost in half.