New UNK chancellor announces $4.5 million deficit

KEARNEY, Neb. — Less than two months into the job, the new chancellor at the University of Nebraska-Kearney has announced his intention to make millions of dollars in cuts.
In an email to staff on Monday, Dr. Neal Schnoor said that UNK needs to address a $4.5 million deficit. He said he is still looking at what specific cuts to make and welcomed input from staff.
“We will need your engagement to move forward strategically, transparently, and collaboratively as we critically evaluate every area of our institutional finances,” Schnoor said. “Our approach will be to prioritize revenue growth while using all means available to make strategic reductions.”
The cuts come as the entire University of Nebraska experiences financial challenges. The system faces a $20 million budget gap and the University of Nebraska-Lincoln recently announced a plan to cut $27.5 million from its budget by the end of the calendar year.
The shortfalls follow a limited increase in state aid and an increase in tuition costs. The Unicameral increased its allocation to NU by 0.625%, much less than what University President Dr. Jeff Gold asked for. The NU Board of Regents voted 6-2 in June to increase tuition by 5% in an effort to help balance the budget.
Schnoor started as chancellor on July 1. In the email to staff, he said he has been involved in a systematic evaluation of the campus’s budget, obligations, and revenues.