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NEWS: University Removes Via Loophole for Free Lyfts

NOVEMBER 21, 2024 EIGHTH WEEK VOL. 137, ISSUE 5

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Faculty Forward Averts Strike, Secures Contract Agreement with University By AMY MA | Deputy News Editor Faculty Forward, UChicago’s nontenure-track faculty union, reached a full tentative contract agreement with the University after a 12-hour bargaining session Friday, November 1. The deal—covering the contracts of over 500 lecturers, instructional professors, teaching fellows, professors of practice in the arts, and writing specialists— comes after months of negotiations, 29 bargaining sessions, and growing momentum towards a possible strike. Key wins for the union include a five-year raise package that exceeds inflation rates, benefits parity, visa sponsorship, and enhanced job security for its most

vulnerable members. Faculty Forward members approved the new collective bargaining agreement by a margin of 200 to 27 during a ratification meeting on November 11. Negotiations for Faculty Forward’s third collective bargaining agreement with the University began in early spring of this year. Increased compensation, visa sponsorship, and benefits eligibility for non-tenure-track faculty and writing specialists were the main priorities of this bargaining session. The union also received assistance from Service Employees International Union (SEIU) CONTINUED ON PG. 2

Faculty Forward members in front of Levi Hall in early October, when they delivered a petition to University administration during the final leg of negotiations. jazmine salas.

University Budget Deficit Hit $288M in FY24, Now $221M By TIFFANY LI | Head News Editor and ANIKA KRISHNASWAMY | Deputy News Editor The University’s budget deficit increased from $239 million in financial year (FY) 2023 to $288 million in FY 2024, then dropped to $221 million this budget cycle, University Provost Katherine Baicker and Chief Financial Officer of the University Ivan Samstein said at a budget town hall meeting on Monday, November 11. The town hall was the third since December 2023. At the meeting, they explained that the University’s revenue growth has begun to outpace its expenditure growth, leading to a reduced budget deficit for the July 2024 to June 2025 budget compared

anika krishnaswamy.

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with that of July 2023 to June 2024. Baicker and Samstein attributed the reduction to the University’s plan to address the severe financial pressures it faces. The four-year budget plan aims to eliminate the budget deficit by 2028. According to Samstein and Baicker’s presentation, expenditure cuts came from debt refinancing, paring down central administrative expenses, and moderating academic units’ spending by limiting faculty and staff compensation increases. Meanwhile, they attributed much of the increased revenue to successCONTINUED ON PG. 3

ARTS: Theater[24] is Coming Soon SPORTS: Sportsbox to a Theater Near You PAGE 10

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