OREM, Utah (ABC 4 News) – Utah Valley University is projecting a budget shortfall of between $7 and $10 million dollars by this coming fall.
University spokesman Chris Taylor says the figure is retroactive for through the previous fall when the budget shortfall first began to appear.
A number of factors are contributing to this budget trend including an earlier deadline to enroll and tighter regulations on presenting ACT scores to enroll.
The largest factor is President Thomas S. Monson’s announcement lowing the age of missionary service for young full time missionaries.
University leaders project 600 fewer students this semester and project up to 2,000 fewer students this fall because of the announcement.
The Universities annual budget is $160 million, which would put the deficit at about 6 percent of this total budget.
There is no impact on students this semester, but this could change.
“In coming semesters if these projections hold true we could see some impact and so we’re looking at programs we’re looking at services
obviously bracing for what’s to come,” said Taylor said.
UVU leaders are aggressively lobbying lawmakers to increase funding to the school.
There are 31,000 students at UVU now. School leaders expect enrollment to jump to 42,000 by 2020