The Nevada Board of Regents has approved another 5% budget reduction proposal following the request of Gov. Sisolak due to the economic fallout caused by COVID-19.
The Nevada System of Higher Education's (NSHE) budget reduction proposal through the fiscal year 2021 totals nearly 20%.
The budget reduction for NSHE totaled $160 million for the two-year period - $27 million in 2020 and $132 million in 2021.
The extra 5% reduction will come from NSHE institution operating reserves.
The previous 14% proposal, approved by the Regents in April, included a 4.6% reduction in pay or 12 furlough days for NSHE academic and administrative faculty (classified employees fall under the purview of the Nevada Legislature).
NSHE also used federal funding as well as savings from not filling vacant positions, enacting a hiring freeze, repurposing capital funds, reducing operating costs and other contracts as part of the reduction proposal.
There will also be a system wide temporary per credit surcharge to universities.
Here is a breakdown below:
- University of Nevada, Las Vegas & University of Nevada, Reno
- Undergraduate - $6 or 2.5%.
- Graduate - $8 or 2.7%.
- Nevada State College
- Undergraduate - $5 or 2.9%.
- Graduate - $5 or 2.1%.
- College of Southern Nevada - $3 or 2.8% lower-division and 1.7% upper division.
- Great Basin College - $3 or 2.8% lower-division and 1.7% upper division.
- Truckee Meadows Comm. College - $3 or 2.8% lower-division and 1.7% upper division.
- Western Nevada College - $3 or 2.8% lower-division and 1.7% upper division.
The surcharge was calculated in proportion to current student fees at NSHE’s institutions.