Copyright © 2016 Albuquerque Journal
In the latest attempt to stanch financial bleeding, University of New Mexico President Bob Frank is moving the money-losing UNM Press publishing house from the school’s academic branch to the administrative side.
The operation has a cumulative deficit of about $6.3 million, and it came up short by nearly half-million dollars in fiscal year 2016, according to a memo from Frank obtained by the Journal. The UNM Press staff said its average net annual sales from fiscal year 2012 to 2015 was about $2.2 million.
“In our current fiscal environment, we simply cannot allow this level of overspending to continue,” Frank said in the memo.