Budget higher than expected

The chancellor's office issued an incorrect figure for IU's predicted loss of revenue due to lower enrollment than expected. Originally pegged as a $7.3 million shortfall, IU-Bloomington Interim Chancellor Ken Gros Louis said the figure is actually $5.1 million, $2.2 million less than previously reported.\n"After getting back from the trustee meeting today, the budget office said that when calculated, (the revenue) had more non-residents than they had thought," Gros Louis said.\nGros Louis said he also had to let the trustees know of the overestimate. \nThe correction to the numbers means that each school will be forced to spend less of their reserves and non-academics will lose a smaller percent of their budget.