Worst-Case U of M Forecast Calls for $315M Loss from Virus
MINNEAPOLIS (AP) -- University of Minnesota administrators are bracing for a loss of as much as $315 million in expected revenue because of the COVID-19 outbreak.
That's according to the most severe forecast presented at a special meeting of the Board of Regents conducted Tuesday by video conference.
The virus has forced institutions all across the country to close campuses and switch indefinitely to online instruction.
The best-case scenario laid out to the board was a $75 million loss. That's if the pandemic were to subside later this spring and normal operations could resume this summer.