Public colleges and universities are looking to make cuts to help bridge a substantial budget gap due to a reduction in revenue becuase of the coronavirus pandemic.
Missouri State University expects $7.6 million to be withheld from its state appropriations—that’s about 8.5% of the money it expected in state funding. It also losing millions more through other lost revenue streams, like housing, meal plans, study away programs and performing arts events.
In an online post this week, MSU President Clif Smart said the university is eliminating its online course incentive payments to faculty for the summer term in an effort to make up the bulk of the summer tuition shortfall. He also announced that MSU’s leadership team will take a voluntary 10% pay reduction, and he will take a 20% pay reduction, for the months of May and June. And in speaking with KSMU’s Jennifer Moore for our ongoing program, Engaging the Community, Smart outlined several other cost-saving efforts as the university looks toward the next fiscal year.
You can hear the program below: