The University of Missouri Board of Curators made some hard choices last week. The board voted to eliminate 604 jobs and a number of programs over the next five years. It's part of a plan to reallocate $125 million to pay for various improvements, including building repair and maintenance, higher salaries, more student aid and better libraries.
In all, more than 1,300 jobs will be eliminated, including 705 through an early retirement program. Salary savings alone will amount to more than $23 million. A graduated tuition hike will also generate an additional $44 million by the fifth year. Even with these continued fee hikes, the price of a college education remains a good deal. The remainder of the $125 million will be raised through program elimination and other reductions.
The curators' tough choices are befitting today's tough times. Institutions of higher education are following the lead of many businesses, which have downsized in the face of a sluggish economy. We applaud the board for looking within to generate additional revenues. Voters have made their opposition to increased higher education funding abundantly clear. As such, Missouri's largest university system has provided meaningful leadership to other colleges and universities.
Simply put, these are fiscal realities. During good economic times, universities and colleges expanded their staffs and programs. As Curator Sam Cook pointed out, the recession has put institutions on a financial diet, forcing them to cut out organizational fat and bureaucracy to become more efficient.
To its credit, the board didn't approach this belt tightening with a "meat ax" manner cutting all programs and positions by the same percentage. Likewise, they didn't simply blame the legislature and voters for not providing more money. Individual programs and positions were examined to determine what was worth keeping. Curators also considered what programs were offered at other universities.
The difficult task was compounded by the fact that higher education funding has not kept pace in recent years. As all institutions of higher learning in the state, the University of Missouri has had to absorb hefty funding losses through withholdings and vetoes. But that didn't stop this difficult internal evaluation.
The choice to funnel more money into building repair and maintenance was also a wise move. Many college and university buildings have fallen into disrepair since state monies faltered several years ago. Without proper funding, the costs will only escalate.
Led capably by Jackson resident John Lichtenegger, curator president, and Southeast Missouri native George Russell, university president, the institution has taken a responsible approach to the funding shortfalls. Hopefully, the result will be a stronger and more well run University of Missouri system.
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