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University of Missouri Redirects $20 Million to Academic Quality and Access

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John Fougere

Chief Communications Officer

University Relations

Jul 17, 2006

Contact: Jennifer Hollingshead

Office: (573) 882-0601

E-mail: hollingsheadj@umsystem.edu

Columbia, Mo. - University of Missouri President Elson S. Floyd announced today that the University is implementing a plan to save $20 million in administrative costs, far exceeding his original goal of $12.5 million set last November. Funds will be reallocated to specific academic and strategic initiatives. Cost cuts will include administrative streamlining, job eliminations and consolidation of services. 
“This is a tremendous accomplishment,” President Floyd said. “I am deeply proud of our chancellors and staff for their vigilant efforts to enhance our academic mission while protecting access and affordability for our students.”
Examples of targeted academic enhancements will include new scholarships and financial aid opportunities, diversity initiatives, the life sciences, increased instruction to meet enrollment growth, new faculty recruitment and student retention efforts. Details of the plan will be presented to the UM Board of Curators at its July 21 meeting in Kansas City.