Legislative Update: Budget
Dear Faculty and Staff:
Now that the Tennessee state budget has been approved by the House and Senate, and is awaiting the Governor's signature, listed below is a brief summary of the implications for the University of Memphis.
This was one of the best sessions for higher education and the UofM in many, many years. The following items specific to the University were included:
Increase in operating funds: $6.7M
Allocation for capital maintenance/improvement: $14M
Allocation for the Scheidt Family Music Center: $44M
Allocation for the Memphis Research Consortium: $2.5M
Next Tuesday, there is a meeting with the Director of the Tennessee Higher Education Commission regarding creation of an "Emerging Research University Fund" for the coming fiscal year set. I am optimistic about this initiative.
Given that we now have an approved budget, we will be moving forward with salary and tuition recommendations at the Board of Trustees meeting in early June. I will forward information about the salary recommendation next week, along with data regarding summer enrollment which is trending in a positive direction.
I hope your summer months have started well.
M. David Rudd
President | Distinguished University Professor