Posted: Jul 3, 2014 3:19 PM by John Guminski, KOMU 8 Reporter
Updated: Jul 4, 2014 11:05 AM
COLUMBIA - MU Chancellor R. Bowen Loftin announced Thursday the University of Missouri will need to reallocate more than $3.8 million to cover losses in state funding.
Loftin said in a statement that each department on Mizzou's campus is being asked to reallocate a certain amount of its budget based on its current balances and the amount of general revenue it receives, as well as any auxiliary enterprise funding.
Loftin said auxiliary departments such as Athletics and Residential Life will also participate in the budget reallocation, even though they receive no state funding.
The breakdown is as follows:
|Schools and Colleges||Allocated Withholdings ($)|
|Arts & Sciences||189,717|
|Ag. Food & Nat Resources||227,054|
|Human Environmental Sciences||50,432|
|Other Divisions||Allocated Withholdings ($)|
|Alumni & Advancement||34,310|
|Vice Chancellor Finance||31,178|
|Vice Chancellor Operation||222,517|
|Vice Chancellor Health Sciences||283,799|
|Information & Access Tech Services||71,619|
|Office of Research||176,318|
MU spokesperson Christian Basi said the money will be taken from various funds, but it is up to each department as to exactly how to reach the requested number.
"It's up to each division head to determine where that money will come from, presumably, some money might be coming from savings and we might see delays in implementing programs or activities that were slated for this coming year, but those decisions will be made by each division head, " said Basi.
Basi said the money must be back into the central budget office by next Friday.