As we near the end of the current fiscal year, many of you may have questions about the status of UMBC’s FY 2021 Working Budget. In a normal year, this would already be settled. However, the University System of Maryland (USM) budget process is currently on hold, awaiting word from the state regarding an expected state appropriation reduction to be implemented in the FY 2021 budget. Once we receive our budget reduction target from the USM, we will take steps to finalize plans to meet it, consistent with our guiding principles of supporting the people who make up our campus community and protecting the quality of our academic programs.
As President Hrabowski and Provost Rous noted in their May 27 message about the financial impact of COVID-19 on UMBC:
- We are modeling a number of budget scenarios that take into account anticipated shortfalls and uncertainty in nearly every revenue source, including state appropriations reductions, enrollment, the nature of our fall semester, and others, as well as the added expenses involved in operating during the pandemic.
- As we know more about our expected financial challenges, we will continue to consult with shared governance leaders, and will keep the campus informed.
- We know that you may have questions and concerns about your own personal situation. Please be assured that we are committed to doing all we can to support people, and we will provide additional information as soon as possible.
In the meantime, thank you for all you are doing to support our students and relaunch research and creative activities, work that is more important than ever to our community and the financial strength of UMBC.
Lynne Schaefer, Vice President for Administration & Finance
