UNC Announces Budget Plan, Will Reduce Personnel and Operating Funds Posted Jan 22, 2021 UNC released a two-year budget plan and guidelines for its schools to balance their budgets in light of the COVID-19 pandemic. In each of the 2020-2021 and 2021-2022 fiscal years, schools and units will implement a 1.5% cut to personnel funds and a 7.5% cut to operating funds. The university faces several challenges presented by the pandemic. (Chapelboro.com)