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University of Oregon plans to trim spending by $4.5 million

University of Oregon sign - KATU file

EUGENE, Ore. (AP) -- The University of Oregon plans to cut $4.5 million in spending from its 2017-18 budget.

The Eugene Register-Guard reported Friday that the university has announced four new spending curbs as part of a continued effort to address an approaching budget shortfall.

The university president says he will cut $1.5 million by reducing administrative spending, which potentially could include layoffs and hiring freezes. Another $1 million will come by eliminating the university's strategic investment fund and $1.4 million by ending graduation incentive grants to scores of students.

University officials say increasing personnel costs and non-increasing financial support from the state of Oregon created the predicted budget shortfall.

The university's budget for 2017-18 starts July 1.

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