The University of Arizona has announced its financial plan for the upcoming fiscal year, which includes $1.3 billion in allocated funds. This comes after the university faced a financial crisis last year.
Leila Hudson, chair of the Faculty Senate, expressed cautious optimism about the universitys future, noting the challenges that still need to be addressed.
Some concerns from Hudson moving forward include “whether the cuts that have been made A, are accurate” and “B, that they are not continuing, as has been the unhappy pattern in the past, to cut the muscle, to cut the brains, to strip the engines of the university in the form of our academic mission.”
According to a budget outline from Senior Vice President John Arnold, the university has reduced its 2024 budget deficit by nearly 40%, lowering it from $162 million to $63 million.
Hudson emphasized the importance of ensuring cuts are made in the right areas. We would like to see the cuts coming from the places where the money was taken, she said.
Some of the most significant financial losses include $148 million from school operations and $32 million from athletics.
Despite the financial challenges, Hudson remains hopeful for the future, highlighting the strength of the universitys community.
We have great people, we have an amazing community, Hudson said. Were just waiting to turn that corner to become a leader among public research universities.
The university plans to welcome its newest president in October.