Understanding Carolina’s budget
With Carolina facing a projected $300 million budget shortfall, it’s never been more important to understand University finances.
Behind the Numbers is a series of stories that take an in-depth look at the figures and policies that make up Carolina’s finances. We aim to shed light on the University’s financial situation, how various financial buckets fit together and what policies guide decision-making.
With Carolina facing a projected $300 million budget shortfall, it’s never been more important to understand University finances.
The plan includes reductions to personnel and operating funds across schools and units and eight budget-reduction principles to help guide decision-makers.
While the University faces financial challenges, efforts to mitigate the impact have saved millions of dollars.
Trustees say it’s time to address the previous $100 million deficit as well as the anticipated COVID-related $200 million budget shortfall.
The University is planning for various budget scenarios, along with preparing for the spring semester, which includes a new advisory committee.