FARGO, N.D. (AP) — The interim president at North Dakota State University says the school's budget shortfall has reached $2.5 million.
Richard Hanson told a state Board of Higher Education committee Monday that the shortfall is due to reduced revenues and increased expenses that were not anticipated. He says the school hopes to make up for it with salary savings from a hiring freeze and money from operating expenses.
Hanson says the changes will not affect staff salaries. He says he does not believe the situation requires an outside audit, but says he's organizing a budget development committee.
Board president Richie Smith says the group's Budget, Audit and Finance Committee will be looking at details of NDSU's budget, but he says he hopes "it's much ado about nothing."
Copyright 2010 The Associated Press.