UMass says revenue shifts still leave $335M budget gap
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Loss of Housing, Dining Revenue Fuels UMass $335M Budget Deficit A projected $235 million is from a loss in housing and dining revenue because most students are learning remotely, university officials said
Published December 9, 2020 •
Updated on December 9, 2020 at 7:55 pm
NBCUniversal Media, LLC
The loss of housing and dining revenue during the coronavirus pandemic is the major reason the five-campus University of Massachusetts system is facing a projected $335 million budget shortfall, officials said Wednesday.
System President Marty Meehan told a trustees committee that it will be critical for the university to remain disciplined in its financial management to remain financially sound. Just as we have employed a science- and fact-driven approach to keeping our students and staff safe during this public health crisis, we have based our budgetary decisions on what we know to be rather than what we hope to be, Meehan said in a statement.