On Tuesday, Sept. 2, Mason students and faculty received an email from President Cabrera announcing that the university will need to cut 5 percent from the institution’s adjusted legislative general fund appropriation for this fiscal year — which started on July 1.
The announcement comes after the Commonwealth of Virginia
reported a $2.4 billion dollar tax shortfall for 2014-16 and called for cuts across state agencies.
The state discourages universities from proposing mid-semester tuition increases and state financial aid is exempted from these cuts. President Cabrera has asked the deans and unit leaders of the university to come up with a savings plan of at least 2.5 percent within their Educational and General Budget. The President said that the university will need to get more creative with how funds are raised.
“This reduction in state support further highlights the need for state universities to reconsider elements of their traditional financial models,” Cabrera said. “In the years ahead we will need to become even more self-sufficient and find creative ways to deliver on our mission with less public support.”
The university initiated a budget redesign last year which President Cabrera said also needed to be emphasized heavily following the cuts.
“The budget model redesign that we initiated last year takes on a new level of urgency, as do our efforts to revamp enrollment processes throughout the university, generate incremental revenue through new programs, public-private partnerships, increased fund-raising and better use of our current assets,” said Cabrera.
Provost David Wu and Vice President J.J. Davis will be holding a budget forum town hall to answer any further questions this Thursday, Sept. 4 at 12:30 p.m. in Dewberry Hall of the Johnson Center. This meeting will also be available via live stream at all four of Mason’s satellite campuses.