Plan to deal with multi-million dollar shortfall midway through school year

Truman State University announced its plan for how it's going to make up millions of dollars halfway through the school year.

Last year's statewide tax revenue was not enough to fully fund all the state's programs.

As part of creating a balanced budget, Missouri Governor Eric Greitens announced a statewide eight percent withholding in funding for every four-year college in the state.

Truman State University Interim President Dr. Susan Thomas said at the State of the University Address on Wednesday that the budget was built with an anticipated 3.6 percent increase in funding, and what happened instead, was the eight percent decrease.

For Truman State, that's $3.1 million less to spend in its current budget.

So to pay for expenses, they're issuing a $50 surcharge on each full-time student this semester.

That means an additional $250,000 dollars for the university.

But that doesn’t solve the potential shortcoming for the next school year.

"Having to take a $3.1 million withhold doesn't allow us to put together some money to move forward to help offset the revenue shortfall next year,” said Dr. Thomas. “So that's why the double whammy of the withhold and a reduced budget recommendation becomes very difficult.”

Administrators are also planning for the next fiscal year, which begins this summer.

They're working with an anticipated $4.8 million shortfall for that year.

Plans for making up the difference include a tuition increase, but they're not sure yet how much that might be.

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