The University of Southern California and the University of Wisconsin-Madison are the latest universities to announce plans to trim their spending as they attempt to cope with increasing financial challenges stemming from the funding cutbacks and policy demands coming from the Trump administration.
Last Friday, University of Wisconsin-Madison Chancellor Jennifer Mnookin, Provost Charles Isbell Jr. and Vice Chancellor for Finance and Administration Rob Cramer advised academic administrators to exercise several budget controls for the remainder of fiscal year 2025, including reducing non-essential spending on travel, supplies, equipment, and events as well as reviewing all vacancies to determine if filling them is critical. Even more significant, all UW-Madison schools, colleges and administrative divisions were instructed to develop 5% and 10% budget reduction plans for the upcoming fiscal year.