Wednesday, February 3, 2010

“Every 20 nickels makes a buck,” Pfutzenreuter said.

(Pfutzenreuter is the chief financial officer at the University of Minnesota)

Really gives you confidence, doesn't it?

From the Daily:

In preparation for another long season of planning the budget, University of Minnesota President Bob Bruininks has released a preliminary framework to guide departments as the financial guessing game moves forward.

In a Jan. 26 announcement, Bruininks asked academic and support units to work on slashing their budgets by an average 2.75 percent for fiscal year 2011. The actual amount could be “tweaked,” University CFO Richard Pfutzenreuter said. Some areas could be cut more and others less.

Bruininks’ preliminary budget plan also includes a 2 percent pay increase for all employees, based on merit or bargaining contracts.

[What? This makes no sense.]

Furloughs are on the table, but nothing has been decided.

[So we're going to have pay raises and furloughs, maybe? Is that like bread and circuses?]

The University’s Office of Human Resources is currently assessing scenarios that would let the University save money through the mandatory days off, while making it fair for all employees, said Joe Kelly, human resources chief of staff.

[Except those that got laid off?]
Sort of reminds me of the old who's on first routine. The Morrill Hall gang has this act down to a science.

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