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Chancellor asks business to get behind UMaine

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News,Business

BANGOR, Maine (AP) — The chancellor of the University of Maine System is urging the state's business leaders to help the system through it financial problems by encouraging lawmakers to increase state funding.

The Portland Press Herald (http://bit.ly/1yTX0qm ) reports that James Page told the Bangor Regional Chamber of Commerce on Thursday that businesses benefit in many ways from the work of the universities.

The seven-campus system got $179.5 million in state funds last year, down from a high of $185.7 million in 2008. Page said state funds used to cover about two-thirds of the cost of running the system. Today, state money covers 34 percent, with tuition making up the bulk of the difference.

The system's trustees approved a $529 million budget for 2014-15, but calls for the elimination of more than 150 positions.

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Information from: Portland Press

Herald, http://www.pressherald.com

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