The University of Connecticut could save more than $50 million over five years by consolidating more purchasing decisions and technology services, boosting ticket prices for high-demand sports and kicking its fundraising into higher gear, a new consultants' report says.
The recommendations unveiled Thursday also include offering more year-around classes rather than scaling back each summer, charging more for parking and bus rides, and examining whether small academic majors and waning programs are valuable enough to justify continuing them.
UConn trustees received the recommendations from McKinsey & Co., which it paid $3.9 million last year to suggest ways to cut costs and boost income as the school's state subsidies drop.
McKinsey says that over five years, UConn could save $39 million to $67 million through cuts, depending on which recommendations it adopts. It also could raise $14 million to $30 million in non-tuition revenue, although UConn President Susan Herbst said any fee increases would be discussed with students, employees and others who would be affected before decisions are made.
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