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LU curators OK $41 million budget, cut jobs

LU curators OK $41 million budget, cut jobs

June 17th, 2011 in News

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.