UMass running on budget, but just barely

Concern about system's finances if interest rates rise

BOSTON (WWLP) – The University of Massachusetts was able to close out the fiscal year on budget, but the school was cutting it pretty close.

As enrollment across the school’s five campuses increases, the cost to tech these students also becomes more expensive. The university took in $3.25 billion in revenue in Fiscal 2016 and spent about $3.24 billion. They are on target with their 0.2% operating margin, but budget writers are worried that they are cutting it close with their finances. It could be a problem if interest rates go up.

UMass has a large presence in western Massachusetts, with its flagship campus in Amherst, and a satellite center in downtown Springfield.

State Rep. Sean Garballey (D-Arlington), a UMass graduate who sits on the Committee on Higher Education, told 22News that the state must do everything it can to support the school, and all other public universities.

“I think it’s critical that we on Beacon Hill fund public higher education at the highest level,” Garballey said.

More than 73,000 students are studying in the University of Massachusetts system.

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