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Tuesday, February 10, 2015

Budget Planning Update

Dear Campus Community,

One positive result of last year's budget difficulties is that we have a much better financial understanding with the Senior Leadership of the University of Minnesota. This was evident during yesterday's visit by University of Minnesota Vice President/Chief Financial Officer Richard "Fitz" Pfutzenreuter and members of the Office of Budget and Finance.

While discussing the budget process, Fitz acknowledged the effort it took to successfully reduce our deficit from $12-million to $6-million over the last 12 months. Fitz added that he anticipates the University of Minnesota system will partner with UMD again this year. The system's assistance and additional investments in UMD were critical in cutting our deficit in half.

But we still have work to do. Please join us for a Chancellor's Town Hall meeting on Wednesday, February 18 at 3:30 p.m. in the Marshall Performing Arts Center as we continue the discussion. We'll take a look at some options for continuing the work that started during the program prioritization process, including efforts to generate new revenue and save $3-million per year for the next two years in order to eliminate the deficit.

Saving $6-millon is a true commitment that will be achieved through a multi-year budget model. We'll walk you through this model and look forward to hearing your thoughts on the process.

I am very optimistic about UMD's future and appreciate all that you do to make a difference in our students' lives.


Chancellor Black

Chancellor's Office
University of Minnesota Duluth
515 Darland Administration Building
1049 University Drive
Duluth, MN 55812
218.726.6535 (fax)
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