University of Missouri cuts spending, freezes hiring in effort to close $32 million budget gap

COLUMBIA, Mo. (STLToday.com) – The University of Missouri-Columbia has halted all merit-based pay increases, instituted a university-wide hiring freeze and is cutting spending by 5 percent, in an effort to close an estimated $32 million hole in its budget in the upcoming budget year.

The news was announced in a message from interim Chancellor Hank Foley who blamed the budget gap on an “unexpected sharp decline in first-year enrollments and student retention this coming fall.”

“I wish I had better news,” he said.

Mizzou administrators are anticipating 1,500 fewer students enrolling in the fall.