Minn. State approves shifting funds to universities

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The plan will reallocate up to $25 million each year for the next four years to financially challenged institutions. The majority of that amount — about $15 million a year — will go to St. Cloud State University and Bemidji State University. 

The Minnesota State colleges and universities system’s board of trustees on Wednesday approved a plan to redirect millions of dollars to help struggling universities.

The plan will reallocate up to $25 million each year for the next four years to financially challenged institutions. The majority of that amount — about $15 million a year — will go to St. Cloud State University and Bemidji State University.

Those two schools have faced enrollment declines and budget deficits. Minnesota State officials say they have already undergone budget cuts, including cuts to academic programs and their workforce, but their cash finances have weakened to an u...