University of Missouri could lose $36M in enrollment decline
COLUMBIA (AP) — Enrollment at the University of Missouri is expected to decline by 2,600 students in the fall, causing tuition revenue to drop by more than $36 million.
The projections would hurt an already poor budget situation and make it likely that the financial challenges would continue for several years as the smaller class makes its way to graduation.
Vice Chancellor of Finance Rhonda Gibler said campus departments have been told to plan for 5 percent cuts to general fund budgets for the fiscal year beginning July 1 as well as 2 percent cuts ordered for fiscal years 2018 and 2019.
The tuition revenue decline is now estimated to be $36.3 million, up from an earlier projection of about $20 million. The total budget shortfall is more than $46 million.