Despite cuts in state appropriations since August, the University of Oklahoma does not have any plans for layoffs, furlough days or tuition increases in the near future.
"Not this academic year," OU President David Boren said Wednesday.
Boren said he built reserves into the fiscal year 2009-2010 budget in anticipation of funding shortfalls.
"We'd prepared for it and I anticipated it," he said.
Therefore, the university will be able to absorb the 5 percent state budget cuts without any impact on tuition costs or drastic employ-ment changes, Boren said.
Boren instituted a hiring freeze in August 2008, stopping new hiring unless with administration approval. Since then, he has said that action has helped prevent any across-the-board pay cuts, unpaid time off or mass layoffs.
Boren also said the federal stimulus funds helped the university with its expenses, and that will probably keep OU from any major financial need next academic year as well.
Boren said he could foresee a tuition increase next school year, in the low-to-mid single-digit percentages. The year after that, however, OU could be in trouble when stimulus funds run out and the state's Rainy Day Fund may be exhausted, Boren said. If no new funding comes in, from federal or state sources, OU could be forced to take drastic measures in the 2011-2012 school year, he said.
Barring any unforeseen catastrophe though, Boren said, "we will be able to get through this academic year, including the spring, without any raise in tuition or any furloughs or layoffs."
One good note in the university's financial situation is an additional $7 million appropriation of state funds announced recently.
Boren said Gov. Brad Henry allotted the amount to OU from the governor's discretionary stimulus funds.
"We certainly express our appreciation to the governor for recognizing the needs of the University of Oklahoma," Boren said.
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Boren: No OU layoffs planned
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