To help cushion the blow the UM System’s budget will take from state funding cuts, Mizzou Advantage, the series of initiatives meant to improve MU in several specific areas, contributed $4 million to MU’s general budget for the upcoming fiscal year.
Mizzou Advantage is an initiative to increase MU’s visibility and stature among higher education institutions. Provost Brian Foster announced the reallocation in funds in an e-mail to deans and department chairmen and chairwomen Thursday.
“In preparation for these budget reductions, a ‘soft’ hiring freeze has been in place at MU for nearly three years, and aggressive action to achieve savings in operations costs has been taken,” Foster said in the e-mail. “Nevertheless, more savings will be needed, and all areas of the university are being scrutinized for potential contributions. To help address these challenges, the Mizzou Advantage has contributed approximately $4,000,000.”
This comes on the heels of Gov. Jay Nixon’s proposal to cut state appropriations for the UM System by 7 percent — resulting in a $29.8 million drop in funding for the system, $12.7 million of which is specifically for MU.
Of this amount, $2 million is being used to manage a shortfall in financial aid funding, spurred by this year’s increased enrollment. The remaining funds are being set aside in a reserve fund to offset holes in the 2012 budget.
“Obviously, the entire university is going to be burdened with the cuts in state appropriations,” program coordinator Meg Phillips said. “Mizzou Advantage is just bearing its share of the struggle.”
Foster said because the contribution makes up a large percent of Mizzou Advantage’s allocation, some goals of the initiative are being delayed for a year.
“Although there will be significant impact on the implementation of Mizzou Advantage, this impact will affect timetable, but not ultimate success,” Foster said.
The majority of these funds will come from delayed faculty hiring. Implementation of student intern and graduate student awards will be delayed as well, as will some faculty professional development programs. This is not a cause for concern, however, Phillips said.
“Mizzou Advantage has always been envisioned as a long-term project,” Phillips said. “Even though a few things are being delayed, it’s still moving forward on a satisfactory timeline.”
She said grants, what she sees as one of Mizzou Advantage’s most important initiatives, will still be awarded.
Originally, plans were for the grants to award $1.5 million, but this will be lowered to about $1 million, Foster said.
“We do not see these savings as ultimately damaging Mizzou Advantage, though some elements will be delayed for a year,” Foster said. “The project is moving forward in very positive ways, providing the basis for building MU’s competiveness and stature as the fiscal environment improves.”