The state Board of Regents reviewed the final reports from Huron Consulting and Chazey Partners during a telephonic meeting Wednesday regarding the firms’ Transparent, Inclusive, Efficiency Review project.

In January, the regents hired Huron and Chazey to assist them with the TIER project, an initiative to identify and initiate cost-saving measures at the state’s three public universities.

During the presentation, Huron said it had identified potential yearly savings ranging from $3.9 million to $7.8 million.