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Cut to the Bone in a Budget Crisis

by Faust,Brian last modified Jul 23, 2010 03:39 PM

Cut to the Bone in a Budget Crisis

The University of Louisville has absorbed nine state budget cuts in nine years totaling $106 million. To mitigate the impact of those cuts, the university recouped more than $95 million in cost savings and avoidances over that same time period.  Some of these savings  are detailed below:

  • $3 million (recurring) in energy efficiencies identified in a partnership with Siemens Building Technologies
  • $1.058 million (recurring) by refinancing long-term debt at more favorable interest rates
  • $1.2 million (recurring) by implementing an in-house digital telephone system
  • $2 million (recurring) by implementing an eProcurement purchasing system for goods and services
  • $30,000 (recurring) by reducing window cleaning to every two years
  • $2,000 (recurring) by installing power misers on vending machines that power down during off-peak hours

So what is the problem? As we continue to make major cuts, we limit our ability to flourish. We also move further away from our HB1 mandate—to be Kentucky’s premier metropolitan research university.

So what is the solution? We will continue to be accountable and good stewards of the dollars entrusted to us. But that is not enough. The legislature must find new revenue sources to ensure that the state’s postsecondary educational system is not in jeopardy.

With additional state support, higher education can be accessible to all Kentuckians and a key to driving economic recovery.

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