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Citing falling revenue, Missouri State University president Clif Smart announced Monday that the university will cut $5 million from its academic budget for the upcoming 2024 fiscal year.
Smart made the budget cut announcement in his annual state of the university address, noting that Missouri State has experienced a decline in enrollment and a dip in retention leading to missed revenue projections, according to coverage of the event by The Springfield News-Leader.
“We budgeted flat enrollment. In other words, we budgeted the same number and same mix of students for this fall as we had last fall,” Smart said. “And we didn’t measure up to that.”
The newspaper reported that fall enrollment numbers are down 1.3 percent compared to fall 2021, and that domestic undergraduate enrollment has slipped 22 percent in the last five years.
Additionally, Missouri State will reportedly save an estimated $3.6 million by not filling vacant faculty positions and another $2.3 million by leaving vacant staff positions unfilled.
