Marquette, MI – (Great Lakes Radio News) – Northern Michigan University’s Board of Trustees has approved a series of budget cuts to address a $2.6 million shortfall in funding due to declining enrollment.
The board approved a revised general fund operating budget of $105.7 million for 2015-16, a decrease from the $108.3 million approved last July.
University officials say revisions include cost-saving measures in general categories to counter the shortfall in tuition and fee revenue.
Specifics on how the new budget will be implemented are still being determined and final decisions will be made next semester.
The university says one-time reserves will get them through the remainder of this year and they will have a structural budget in place for the next fiscal year.