The University of Saskatchewan says it's making progress as it works to meet a goal of saving $44 million in operating costs by 2016.

A town hall meeting held Tuesday on campus was told the university has found $15 million in savings during the last year, part of that coming through the elimination of 250 jobs.

Two task forces are working to come up with another $25 million in savings with their reports to be submitted to university president Ilene Busch-Vishniac on Nov. 30.

The university has a $100-million surplus this year but says most of that money has to be used for specific purposes such as research and endowments and can't be used to cover its projected $44-million operating deficit.