UNM’s $2.9 billion budget was unanimously approved by Regents on Tuesday.
The approved budget plans for $833 million in total revenues and an equal amount of expenses, leveling out to a 1.9 percent overall decrease compared to last year.
In his administrative report to Regents, Interim President Chaouki Abdallah said decreases in state funding and Lottery Scholarship support were primary drivers of the revenue reduction.
To counter the revenue decreases, the budget team prepared spending reductions including continued workforce reduction, a continued hiring
Increased student fees and a change in tuition structure were also implemented to counteract shrinking state contributions.
Part of those changes
The tuition change did not bring the budget