LARAMIE, Wyo. (AP) — University of Wyoming President Laurie Nichols says she's confident the institution will emerge from its financial woes stronger and more focused.

Nichols delivered her first state of the university speech Thursday.

Nichols started the job in May just as the state's only public, four-year university was beginning the process of cutting its budget.

The state has cut the university's budget by $35 million because of a decline in state energy revenue. In addition, the university must reallocate an additional $6 million from within its budget for utilities and improvements to its accounting system for a total budget hit of $41 million.

Nichols says the future of the university depends on increasing its enrollment and reviewing its tuition and fees, which she said are among the lowest in the nation.

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