March 4, 2014
In light of the recently announced budget shortfall affecting the University of Maine System, University of Maine at Farmington President Kathryn A. Foster has announced a number of cost-cutting actions UMF is taking in order to achieve efficiencies that will preserve the quality of its students’ educational experience in a financially responsible and sustainable way while balancing its budget for fiscal year 2015.
UMF has eliminated 18 positions from its budget of roughly $31 million, of which 15 are vacant and three filled. These position eliminations, which result in a savings of $1.65 million, do not result in the elimination of any units or departments.
In addition, The University will also lower spending by $1.34 million in operations, everything from reducing services and supplies budgets to postponing capital investments. We are confident that making these reductions, which amount to roughly 9% of our operating budget, will strengthen UMF now and into the future.
For those people whose positions are eliminated, the University’s human resources department will offer assistance to help them in career transition and job search strategies. The University’s employee assistance program can also be utilized.
These system-wide budget shortfalls are not one-time or unforeseen events. They result from a variety of factors including intense fiscal pressures on the state legislature and a declining statewide demographic of college students.