Indiana University says it’s lowering spending by $177M in face of 6 percent state aid cut
By APThursday, December 17, 2009
Facing lower state aid, Ind. Univ. cuts spending
BLOOMINGTON, Ind. — Indiana University says it has made $177 million in cuts as it adjusts to Gov. Mitch Daniels’ 6 percent reduction in state aid to higher education.
The university said Wednesday it will see about $1 billion in savings over the next decade as a result of the continuing university-wide cost-containment effort.
School President Michael McRobbie says the cuts won’t harm the quality of academic and research programs on any of Indiana’s campuses.
The university says the cuts include $98 million in recurring expenses and $79 million in one-time cuts.
The cuts include a salary freeze, reduced retirement contributions, lowered information technology spending, prescription drug spending reductions and debt refinancing.
