Paul L. Caron
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Friday, July 24, 2020

University Of North Carolina Faces 50% Budget Cut Due To COVID-19

NC Policy Watch, UNC System Exploring Worst-Case Scenario Budget Cuts Of Up To 50%:

UNCThe UNC System is preparing for possible budget cuts of up to 50% at its 17 campuses, according to an email obtained by Policy Watch this week.

The email, from UNC Board of Governors Chairman Randy Ramsey to the system’s chancellors, cites the potential impacts of the ongoing COVID-19 pandemic and the possibility that campuses may again close after reopening next month.

In the email Ramsey asks the chancellors for several documents:

*A report from each chancellor on the financial impact of closing their campus and reducing tuition and room and board fees.

*A plan from each chancellor to reduce their budgets by between 25% and 50%, to account for the reduced revenue resulting from reduced enrollment under various degrees of closure.

After 25 years at the university, [Deb Aikat, a journalism professor at UNC-Chapel Hill] said he has seen bad financial times and heavy budget cuts. But this is unprecedented. “We’re really talking about the defunding of the universities,” Aikat said. “I hope it doesn’t come to that.”

https://taxprof.typepad.com/taxprof_blog/2020/07/university-of-north-carolina-faces-50-budget-cut-due-to-covid-19.html

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