NDSC1FARGO, N.D. (AP) – A dire report on North Dakota’s budget situation has led the state Board of Higher Education to postpone action on contracts for college and university presidents.

The board had scheduled to vote Friday on new contract terms for seven presidents, and salaries for all presidents, the chancellor and vice chancellors. But board President Kathleen Neset said additional time is needed to ensure the budget “reflects the strategic direction” of the board.

Board member Kevin Melicher said the group owed it to the presidents to keep the item on the agenda, but his motion failed for lack of a second. The board plans to take up the issue at a special meeting next week.

A state budget report released Thursday shows that tax revenues came up $36 million short in May.