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Monday, December 21, 2020

Top ten CLA facts and happy holidays

In a normal year — i.e., a year that is not 2020 — I would have delivered State of the College remarks early in the fall semester. This year, it seemed best to move those remarks to the spring after we’d made it through the fall and had some better sense of the state, University, and collegiate budget and fiscal situation. 

Two years ago we introduced the State of the College Data Deck, designed to provide an overview each fall of important information about the college. The 2020 edition is now available. My thanks to CLA Chief Financial Officer Brent Gustafson for his extensive efforts pulling the deck together and for his prodigious patience when I would suggest yet one more tweak.

Friday, December 4, 2020

State budget forecast and the implications for the U and CLA

 Minnesota Management and Budget, the state budget office, released updated state budget projections earlier this week. Their revised projections were favorable. Previously, the office had forecast a state budget deficit for the current year, Fiscal Year 2021. With the revision, the projection is now for a surplus for this fiscal year. This change doesn’t directly affect the University’s current budget, but it does reduce if not eliminate any requirement from the state for agencies and universities to find savings to plug a budget hole. 

The University, as President Gabel recently shared, does have a projected FY21 deficit of $150-175 million, spread across all units and campuses and including areas such as athletics, dining, and housing in addition to the academic enterprise. At next week’s meeting, the Board of Regents will discuss the tools available to address that shortfall.