University of Nebraska Board of Regents to discuss budget, bylaw change
LINCOLN, Neb. (WOWT) - The University of Nebraska Board of Regents will have a special meeting to discuss budgets and board bylaws.
Chairman Tim Clare announced Tuesday that he called the meeting for two main reasons: to have a public review of the university’s fiscal status and to review a recommended change to the bylaws to assign direction and oversight of Husker Athletics to the NU System President.
According to the University of Nebraska, Clare says he wants the board to have a public review of the budget and planning strategies, and that it is “crucial” for the board to have a discussion before the June 22 meeting, which is when regents will consider the university’s proposed budget for next year.
“Over the past few months, we have heard President Carter accurately describe the significant fiscal challenges facing all of higher education, including the University of Nebraska,” Clare said. “We want to make sure – and we want all Nebraskans to understand through our transparency – that as a university, we not only recognize the fiscal realities before us but that we are proactively planning to get ahead of them.”
Clare also told NU System President Ted Carter and Senior Vice President/Chief Financial Officer Chris Kabourek to prepare a presentation for the special meeting, covering topics including:
- The university’s current fiscal picture, including campus shortfalls.
- The university’s cash position.
- Short- and long-term projections for revenue. The university’s day-to-day operations are primarily funded by state appropriations and tuition dollars.
- Short- and long-term projections for spending, including salaries and the impact of ongoing inflation.
- Steps the university has taken in recent years to find budget efficiencies, reduce spending and enhance revenue.
- Other elements that impact budget planning, such as demographic trends and enrollment management.
The other topic on the bylaws to assign direction and oversight of Husker Athletics to the NU System President will be for information only during the special meeting and then voted on during the June 22 meeting.
“Husker Athletics is the single most iconic brand in the state of Nebraska,” said Clare and Board of Regents Vice Chairman Rob Schafer of Beatrice in a joint statement. “It makes sense for the president of the university system, with a direct line to the Board of Regents, to have oversight of the program that serves as the front door to the university for so many Nebraskans.”
If approved, the new rule will take effect on July 1, 2023.
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