In response to Florida's bleak budget forecast released by state economists Friday, UF Chief Financial Officer Matt Fajack said tuition increases would probably not cover state cuts to UF's 2009-2010 budget.
Economists projected about $1.4 billion less in revenues in 2008-2009 than projected in August, bringing the state's total budget deficit to about $2 billion.
Raising tuition next year could bring in up to $24 million for UF, but Fajack said he expects cuts from the state to be more than that, possibly up to $50 million.
UF absorbed a $47 million cut in the 2008-2009 fiscal year.
The proposal announced Thursday by Gov. Charlie Crist that would allow state universities to hike undergraduate tuition up to 15 percent a year could bring UF about $12 million if passed by lawmakers, Fajack said.
The other $12 million would come from raising graduate tuition by 10 percent and tuition for professional programs by 15 percent, the maximum allowed by law, he said.
There's a possibility that universities might see a decrease in state funding as a result of Crist's new tuition plan, Fajack said, in addition to decreases in state funding due to plummeting revenues.
It happened when Florida began funding higher education with proceeds from the Florida Lottery, he said. Lawmakers saw money pouring into universities from a new source and decided to cut funding by an equal amount, he said.
This time, he said, lawmakers might be more careful to pull out funding.
That doesn't mean UF is in the clear. While UF has done a good job of cutting back on expenses, there's not much left to cut in those areas. The 2009-2010 budget cuts UF might face could be devastating, Fajack said.
"We're going to have to start having larger classes or looking at cutting programs completely," he said. "No more just belt tightening."
David Quillen, chairman of the Faculty Senate's Budget Council, said he would recommend UF programs start trying to figure out what they're going to cut.
"I think it's going to be fairly painful," Quillen said of next year. "We need something fun to happen, like winning a national championship."
