The University of Arizona will continue to explore loans and credit lines to deal with the financial crisis stemming from the COVID-19 pandemic, but employee furloughs will go on as planned, starting Monday.
That's the gist of an email UA President Robert Robbins sent to the university community Friday afternoon. The university faces a potential $250 million shortfall because of drops in revenue from tuition and other sources.
Robbins said he appreciated suggestions drawn up by a faculty committee, but the university cannot borrow money without approval from the Legislature, and a line of credit would require approval from the Arizona Board of Regents. Robbins says the UA is pursuing both approaches, which have been suggested by students, faculty and staff critical of the university’s approach.
In the meantime, university employees who earn more than $45,000 a year will be expected to take a number of days off without pay, depending on their salary level, over the next year. Robbins and other "senior leaders" of the university saw their salaries cut starting in March.