Skip to main content
Skip to navigation

July 10, 2014 Volume 35, No. 33

MU units asked to return funds to fill shortfall for fiscal 2014

Deadline for return of funds is Friday

An unexpected withholding of state funds for fiscal 2014 led Chancellor R. Bowen Loftin to ask schools, colleges and divisions to return some of their funds.

The university’s shortfall for the year ending June 30 was $3.8 million, Loftin said in an email to employees July 3.

The shortfall was caused by an additional $35 million in withholdings to state funding for public schools and universities announced in May by Gov. Jay Nixon. 

The governor had hoped that the state’s education allocation would receive needed funds from 2013–14 lottery sales and gaming receipts. But the numbers didn’t add up. The May cuts came on the heels of a $22 million withholding from education announced weeks earlier.

The Office of Student Affairs took the largest cut at $936,050, according to Budget Office records. Within Student Affairs is Residential Life, which is not funded by state allocations. Intercollegiate Athletics, which also does not receive state funding, will reallocate back $40,997.

Among schools and colleges, the largest reallocations come from the School of Medicine ($324,707); the College of Agriculture, Food and Natural Resources ($227,054); and the College of Arts & Science ($189,717). All together, 13 schools and colleges received cuts.

Calculating the amount of withholdings was based on each unit’s budget balance, as well as its general revenue received and any additional funds generated for the year, MU spokesperson Christian Basi said.

Units have been asked to return the funds by Friday, Basi said.