The University of New Orleans will reduce its expenditures by $12 million to make up for a budget shortfall, President Peter Fos announced Tuesday. The trimming, triggered by a $9.3 million reduction in the state's appropriation for the Lakefront school, represents "the most significant budget cuts in the history of our institution," he said in a statement.
Among the methods Fos said he plans to use to save about $3.3 million will be providing incentives for 53 faculty and staff members to retire early; eliminating 30 vacant faculty positions and 26 graduate-student assistantships; and not renewing five faculty members' contracts when they expire.
No tenured faculty will be fired, UNO spokesman Adam Norris said.
In addition to the reduction in the money the state provides for UNO, Fos said the cuts are being made because of increases in such expenses as retirement costs and fringe benefits, and an expected decline in fall enrollment.
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