By J.K. Wall, The IBJ
jwall@ibj.com
Indiana University President Michael A. McRobbie ordered the school's vice presidents, chancellors and deans to find $4.9 million in budget cuts immediately, in response to Gov. Mitch Daniels' decision to trim IU's state operating funds by that amount for the current fiscal year.
The cut represents 0.2 percent of IU's $2.6 billion annual budget. State funds account for 19 percent of that total.
The directive is the latest move by McRobbie to head off declining revenues, including diminishing returns from IU's endowment.
In October, McRobbie demanded a slowdown in administrative hires. In December, he announced that salaries for as many as 400 of IU's senior administrators would be frozen in the upcoming fiscal year, saving more than $2 million.
This time, McRobbie reiterated his request for a delay administrative hiring and to reduce spending on equipment, supplies and travel.
"It is my intent that Indiana University will find ways to operate at these reduced funding levels without sacrificing the quality of our basic academic and research missions," McRobbie said in a statement. He promised that dollars designated for student financial aid and student technology would be exempt from these cuts.