The University of Memphis could lose more than $12 million in revenue for the 2002-2003 fiscal year as a result of decreased state funding according, to a press release from the Tennessee Board of Regents.
Last week TBR Chancellor Charles Manning met with the presidents of TBR universities and community colleges, as well as the directors of the state’s technology centers, and asked the institutions to prepare and submit contingency plans for implementing the cuts in the Downsizing Ongoing Government Services Budget, under consideration by the General Assembly.
The budget would cut about $56 million from the base budgets of TBR institutions, with another $10 million in state funding cuts for centers of excellence and emphasis in the universities and community colleges.
Options for The University to make up for the lost revenue include hiring freezes, enrollment freezes, eliminating faculty and staff and eliminating programs.
“We also expect that tuition increases in the double digits will be on the table,” stated the press release.
Some TBR institutions have considered reducing the number of first-year, tenure-track faculty to deal with the budget crisis.
TBR policy requires schools to inform first-year, tenure-track faculty no later than April 1 whether or not their contracts are approved.
“(This) obviously creates a very unsettling situation on the campuses,” the TBR press release stated. “We must be prepared for worst-case scenarios that seemed highly unlikely only a year or two ago.”
U of M President Shirley Raines and Provost Ralph Faudree issued a joint statement about the cuts.
“The mission of The University of Memphis is education,” read the statement. “Without sufficient faculty, that mission cannot be accomplished. Retaining top-quality faculty is one of our prime concerns; we owe nothing less to our students.”
Planning for alternate budget options will continue until the Tennessee General Assembly announces an appropriation level.
The TBR’s system includes six universities, 13 two-year colleges and 26 technology centers. Over 180,000 students in 90 counties in Tennessee are provided with programs by the TBR’s system.
