Belt tightening is still the order of the day at the University of Arkansas for Medical Sciences campus. Dr. Debra Fiser, dean of the College of Medicine, sent word around last week that department heads had learned the UAMS campus budget would be $5 million short in fiscal 2012, which begins July 1, and the College of Medicine would be expected to produce $2 million worth of the savings to close the gap.
This is on top of news from Arkansas Children's Hospital, Fiser said, that it might cut contracts for physician support by roughly $2 million, for a total $4 million "hole" in the College of Medicine budget. Nothing is final and talks continue.
However, cost-cutting is the order of the day. The best idea from every department for saving $5,000 or more a year – and which is actually implemented – will be rewarded with a $100 gift card. Unfortunately, the dean added, "it will be legally taxable as income to the individual."