Paul L. Caron

Saturday, February 9, 2019

University Of Minnesota Law School Reduces Budget Deficit By 33% (From $5.2m to $3.9m), On Path To Balanced Budget In 2021

Minnesota LogoFollowing up on my previous posts (links below): Minnesota Daily, Regents Approve Tuition Surcharge For CSE Students:

As the Law School continues efforts to resolve a multi-million dollar deficit, the board reviewed progress made on a three-year plan. 

After the first year of the plan, Law School Dean Garry Jenkins said the Law School is well on its way to resolving its “structural imbalance” by 2021. 

The school reduced its deficit to $3.9 million in fiscal year 2018, a 33 percent reduction from two years earlier. The school expects to reduce the deficit by another $1.4 million in fiscal year 2019.

“The law school has made tremendous progress in the time we’ve put it under this microscope,” said Senior Vice President for Finance and Operations Brian Burnett. 

Jenkins said the Law School met or exceeded all metrics this year set by an oversight committee, although it has not been easy. “It has meant a lot of cuts, a lot of change. Lower salary increase for our faculty and [professional and administration staff],” Jenkins said. “This has not been easy, but it is something we have been taking very seriously and we are very committed to success.”

The school saw its largest entering J.D. class in seven years, Jenkins said, which exceed enrollment targets by 9 percent.

Several regents expressed support for the Law School’s reducing costs, while maintaining its place as a top 20 law school in the country.  “I know what we’ve asked you to do — reducing the budget while keeping or improving national rankings — is hard,” Regent Anderson said.

However, Jenkins said there remain challenges to the school’s success, including a dramatic drop in international law students and pressure to contain tuition increases. 

Prior TaxProf Blog coverage:

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They'll have a balanced budget with very few students.

Posted by: Mike Livingston | Feb 11, 2019 4:40:39 AM