University of Nevada system faces bankruptcy

Las Vegas Review-Journal : Cuts to Nevada’s budget proposed by the state’s governor Brian Sandoval could trigger the bankruptcy of the University of Nevada system. Under Sandoval’s proposal, the system’s main campus in Las Vegas must cut $47.5 million from its budget over the next two years. If the cuts, which amount to 10% of UNLV’s total budget, were applied uniformly, the university’s College of Sciences would see its budget fall by $2.82 million. To deal with the cuts, UNLV’s president Neal Smatresk said he would declare “financial exigency,” a state akin to bankruptcy, to enable him to reduce expenses and fire tenured faculty.