University of Minnesota presents budget report to Senate Committee

by Benjamin Farniok

University of Minnesota administrators presented a report to the Minnesota Senate Thursday on the school’s revenues and expenditures across the entire system.

In addition to presenting on its budget, administrators offered details on how the institution passed five performance measures— tied to state funding— set by the Legislature in 2014.

Some administrators who presented to the Higher Education and Workforce Development Committee  included Vice President and Chief Financial Officer Richard Pfutzenreuter  and Vice President for Research Brian Herman.

University officials said the institution reduced its administrative spending by $39 million in 2014, part of the $90 million in cuts it must make by 2019. 68 percent of the savings were described as personnel changes, including terminations and savings from the restructuring of existing positions.

The meeting was unable to finish in the allotted time and the committee and University representatives will reconvene on Tuesday.