BOULDER, Colo. (AP) — University of Colorado president Bruce Benson says the university has saved about $4 million by self-insuring itself and more than $2 million after taking an audit of dependents on its benefits roll and finding some that were ineligible.
He says the school has saved another $7 million in procurement costs, which is in charge of contracting with vendors and purchasing.
Benson says the cuts were needed because state funding has been cut to $146 million next year, a a $46 million reduction over last year.
Benson says the university has avoided laying off faculty or scaling back research positions so far this year.
The school has already addressed $50 million in cuts during the past two fiscal years, partly through layoffs.
(Copyright 2011 by The Associated Press. All Rights Reserved.)