Memorial University recently provided an update on its 2024-25 operating budget. Based on its financial data and projections, the university anticipates an $8.89M shortfall against budgeted tuition and student-related fee revenue for the 2024-25 year. To address this gap, Memorial plans to balance the budget using a combination of one-time savings and carryover funds. The university also announced refinements to its limited hiring program and added that it will maintain restrictions on funding carryover use into the 2025-26 fiscal year. Further, Memorial emphasized the need for increased funding, careful planning, proactive decision-making, and strategic solutions to mitigate future deficits.
Memorial
