Governor Lee's Amended Budget
Dear Faculty and Staff:
In an effort to provide you timely and accurate information during this challenging time, Governor Lee provided an amended budget this morning. I have attached the summary memo forwarded from the TN Higher Education Commission (THEC). Consistent with the sizeable negative impact in the U.S. economy as a whole, Governor Lee has modified the original budget submitted in January. As anticipated, there are significant changes, and the budget has been noticeably reduced. Governor Lee described the budget as “a pragmatic budget grounded in the economic disruption likely to occur.” In summary, his budget proposal maintains the increases previously noted in formula funding, along with including a 1.5% salary pool increase (reduced from 2.5% proposed earlier) for TN higher education. Although capital funds have been eliminated (i.e. funds that included our STEM building project), he maintained capital maintenance funds at $109.1M.
We will continue to provide regular updates in the coming weeks. Thank you again for your patience and collaborative spirit during a challenging period in our history.
Dr. M. David Rudd, President