Gov. Tim Pawlenty plans to cut $50 million in funding from the University of Minnesota in his efforts to reduce a $2.7 billion deficit, he announced Tuesday. The cut, all of which will come from the UniversityâÄôs 2011 state allotment, amounts to about 3.6 percent of the $677.3 million it would have received that year. The Republican governor and the DFL-controlled Legislature failed to balance a multi-billion budget shortfall during the legislative session in May. Pawlenty will use a rare technique called unallotment âÄî cutting from spending previously approved by the Legislature âÄî to make up the difference. University CFO Richard Pfutzenreuter said the University was planning for a $73 million unallotment. But combined with the $105 million the Legislature cut from the UniversityâÄôs total two-year operating budget, Pfutzenreuter said the unallotment still hurts. âÄúHe didnâÄôt take the whole arm off, he took it off part of the way up,âÄù Pfutzenreuter said. âÄúWe are relieved it wasnâÄôt 73. Fifty million is still a lot of petunias.âÄù Pfutzenreuter said TuesdayâÄôs news will not affect University President Bob BruininksâÄô proposed 2010 budget, which includes a 7.5 percent tuition increase, much of which will be reduced for many students by federal stimulus dollars, and the loss of more than 1,200 jobs. The Board of Regents will vote on the budget on June 24. The Minnesota State Colleges and Universities system will also received a $50 million cut in 2011. In a Tuesday press conference, Pawlenty acknowledged the two higher education institutions were anticipating larger cuts. Pawlenty said many of the cuts come in the second year of the 2010-11 biennium, giving the Legislature time to reassess the budget during next yearâÄôs session. Pfutzenreuter said the Unviersity would do so as well. âÄúThe governor has taken deliberate action but the Legislature gets another shot at this too,âÄù he said. âÄúThey will be in session in February 2010. We will be revisiting these unallotments. WeâÄôd like more money.âÄù