FARMINGTON (AP) – The global economic crisis is adding to financial difficulties for the University of Maine System, Chancellor Richard Pattenaude said Monday.

Pattenaude told trustees meeting at the University of Maine at Farmington that the system is looking at $8 million or more in cuts to make up for investment revenue losses and tuition declines caused by lower enrollment. That’s on top of $19.1 million in self-imposed cuts earlier this year.

Rebecca Wyke, vice chancellor for finance and administration, said it adds up to $27.1 million in total reduction this year – before the governor’s 10 percent curtailment order.

“It’s very likely that we will experience some level of a midyear curtailment of state appropriation,” Pattenaude said. “Overall, it is clear the global economic crisis has created far greater financial stress on public higher education than could have been predicted.”

The governor’s 10 percent curtailment order is aimed at dealing with a budget shortfall of about $150 million in the current fiscal year.

It won’t get easier in the new year. The next Legislature is expected to face a budget shortfall of $500 million, or more, in the next two-year budget.

Pattenaude said the goal is to minimize the impact of budget cuts on students and academic programs.

“We have a stewardship responsibility to provide high quality, affordable, and accessible higher education options in ways that serve the educational and economic needs of our state, its employers, and its citizens. We also have to balance the budget,” he said.

AP-ES-11-17-08 1755EST

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