UMinn Has Grand Plans For Surplus $25 Million

MINNEAPOLIS (AP) — The University of Minnesota has been budgeted about $25 million more than it was expecting.

Officials are already making plans for the money. They’ll spend some of it on scholarships and faculty hires, and they’ll stash some away for a rainy day.

The university got $545.3 million from the state. That was a 7.8 percent cut, but officials were expecting a steeper cut so they budgeted for $520 million.

University President Eric Kaler tells the St. Paul Pioneer Press it was too late to offer tuition relief this fall. But in the spring, some 13,400 low- and middle-income Minnesota students will get one-time scholarships averaging $310.

The school will also use $4 million to hire science and engineering faculty. It will also hang on to about $6.1 million.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • U Of M Has Plans For $25 Million Surplus « CBS Minnesota

    […] of its plans include adding scholarships, staff positions and saving some cash for a rainy day. [WCCO: Local] Share this No comments […]

  • xxx

    Why don’t they take the entire amount and lower the tuition for all of the students.
    We don’t need more buildings. We need affordable tuition.

  • hwlp

    why hire more teachers lower the tuition to all the students. If you you look at how they spend the money they have extra lets spend it all. Just put it away for a rainy day when they get more cuts next year.

  • Molly

    Normal precedure for government funded agencys. I remember working for the government and they came around and said everybody gets a new desk cause if we don’t spend the money they will cut our budget.

  • Ellen

    Government waste at it’s finest. Why didn’t they just give the “U” what they were expecting, and put the rest against the deficit. The “U” is in the spotlight now with folks watching to see how they spend it. That’s why they’re putting some of it away for a rainy day….meaning down the road when the taxpayers aren’t watching to see how it gets wasted!

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