LU curators OK $41 million budget, cut jobs
Friday, June 17, 2011
Lincoln University curators approved the school’s nearly $41.3 million, 2011-12 budget plan Thursday.
The budget for the business year that begins July 1 includes almost $35.66 million for the general fund and $5.68 million for the auxiliary budget.
The approved plan is $164,128 smaller than the 2010-11 budget adopted a year ago for the business year that ends June 30.
The new budget includes $16,915,512 in state funds — down $1.27 million from a year ago — and $17.804 million in tuition and fees income, which is almost $1.3 million more than last year.
The smaller budget means LU had to cut some positions, President Carolyn Mahoney told the curators at a meeting in Jefferson City.
Mahoney said 5.5 positions were eliminated.