LSU Announces Mid-Year Budget Cuts
BATON ROUGE – LSU has cut $8.1 million from its operating budget in response to mid-year budget cuts dictated by a $50 million reduction in funds for higher education due to a shortfall in state budget projections for the current fiscal year.
Funds for nearly 60 positions at LSU have been impacted, 40 of which are vacant positions that were scheduled to be filled in the coming months. The remaining positions will be moved off of the university operating budget to other sources of funds.
“These cuts have been spread throughout the campus to reduce the impact on any particular department,” said LSU Chancellor Michael Martin. “The cuts reflect a reduction in services throughout numerous departments at LSU and the loss of positions that are important to the service of our students.”
LSU has now experienced a reduction in general state appropriations from $245 million to $153 million since January of 2009, a drop of $92 million in three years.
For this mid-year cut, LSU was assigned a reduction of $7.8 million but must also assume an additional $340,000 of the cut assigned to the Pennington Biomedical Research Center.
Academic units at LSU will incur a reduction of $2.5 million dollars, an average of 1.5 percent of their budgets. Non-academic units will suffer cuts totaling $3.2 million, an average of 3.8 percent of their budgets. Also, a reduction in institutional fringe benefits due to the reduction in positions along with a savings in risk management insurance premiums will generate $1.6 million and various cuts already implemented in the current fiscal year will account for approximately $750,000.