As the state’s biennial budget awaits Ohio Gov. Ted Strickland’s signature, University of Toledo leaders are vowing to make a fall semester tuition increase a last resort as they work to balance the institution’s budget.

As was announced in Columbus late last week, if Strickland signs the current budget, as is expected, higher education funding will be reduced and the state’s prior tuition freeze will be replaced by a 3.5 percent tuition cap.

“For the fall semester, increasing tuition will be the last item on the list we choose as we work to balance the budget,” said UT President Lloyd Jacobs.

“We’re still in the process of gathering information on our expected state subsidy from legislators, the chancellor’s office and the Board of Regents,” said Jacobs, “and we need to be sure we’re looking at the entire financial picture before we begin to make choices regarding possible UT budget amendments.”

Jacobs said they would evaluate the University’s finances throughout the rest of the year before making any decisions regarding spring semester.

With the state’s current funding level, the academic enterprise of the institution is looking at an estimated budget shortfall of $7.5 million, according to Dr. Scott Scarborough, senior vice president for finance and administration. He estimated a $1 million shortfall for the hospital.

The budget amendment process will be an abbreviated version of this year’s original budget process, Scarborough said.

“We will go back to the vice presidents and deans and ask them to identify their share of savings in the context of the University’s Strategic Plan,” he said.

Jacobs acknowledged the next few weeks could bring additional pain.

“As an institution we have been through a great deal of hardship in the last few months, and it is only fair that I say frankly that additional hardship may be on the way,” he said.

“The financial burden on our students and their families is already too high. While it will not be easy, we must remain committed to students’ success, to do more with less, and to focus on the priorities of the University.”

This entry was posted   on  Friday, July 17th, 2009 at  9:32 am and is filed under  UToday, zBudget-related. You can follow any responses to this entry through the RSS 2.0 feed.   You can leave a response, or trackback from your own site.