BANGOR (AP) — The University of Maine System’s trustees have approved a budget which, for the first time in 25 years, includes no increase in tuition for in-state undergraduate students.
Meeting Monday in Bangor, the trustees approved a spending plan for fiscal 2013 that balances the books despite a $2.3 million decrease in the state appropriation.
Chancellor James Page says that while the budget is balanced, the financial model it uses is not sustainable over the long term. To help improve and stabilize the system’s financial future, Page is taking several actions including an in-depth review of administrative costs.
The new budget takes effect July 1.
In other business, the trustees updated the student conduct code for the entire University of Maine System.
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