The proposed budget looks to cut 157 positions and take $11.4 million from the emergency reserves.
Officials say it's a plan they've been discussing for some time now.
"We have accumulated about a $15 million budget stabilization fund, or a rainy day fund, and it's raining," said Chancellor James Page. "And it was time to take some of those and use them so that our campuses can have enough time, a one or two year period to plan, to make those reductions that they need to make in a way which doesn't compromise, or unduly compromise, the core mission of the campus."
"There's tough cuts all the way around at each of the campuses but we have to be align with the number of students that we have today," said Sam Collins, Chairman of the University of Maine System. "And from 2007 to today, we have 2,000 less, approximately 2,000 less students in our system. So we have to be sized appropriately to serve the needs of those students coming into the system."
The plan was posted to the system's website Tuesday. It will be discussed at a committee meeting scheduled for Monday.
The system's board of trustees is expected to make a decision at another meeting scheduled for May 18-19.
This plan will not impact tuition fees. In fact, this will be the third straight year for a tuition freeze, but University of Maine System officials say it can't last forever.
The new fiscal year begins July 1st.