Updated: May 08, 2020 06:20 PM
Created: May 08, 2020 04:38 PM
ALBUQUERQUE, N.M.- The University of New Mexico reports losing about $110 million because of the coronavirus.
University officials said $4 million was lost when they had to force students out of their dorms to help prevent the spread of the virus. Another $5 million was reportedly lost due to cancelled events.
The biggest loss was in the university's health system, which is made up of UNM Hospital, HSC Academics, Sandoval Regional Medical Center and UNM Medical Group.
Before the virus, officials expected those health systems to make between $50 million-$70 million. However, they are now expected to lose $25 million.
A spokesperson from UNM said, "Our hope is that we will start mitigate some of the damage as we move to ramp up our clinical operations in coming weeks."
HSC will also look at using some of the money in their reserves.
Projects like the new hospital tower are still in the works. However, the schedule could be impacted by COVID-19.
The university has already received more than $20 million in financial aid from the federal government, and officials plan on asking for more.
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