2018 State of the State Snapshot
Dear Faculty and Staff:
I attended Governor Haslam's State of the State Address last night in Nashville, and he released his budget recommendations afterward. Overall, the budget is a very positive one for higher education, including the University of Memphis. We will make additional details available as the session moves forward, but here is a quick snapshot of the impact for the UofM. For reference, I have attached a copy of the Governor's FY2018-19 Budget Recommendations.
The net increase in recurring state appropriations for the UofM is $5,911,900. This includes funds for a potential salary increase of up to 2.5%. Please remember that state funds only partially cover any raise amount. Recommendations also include $15,010,000 in maintenance funds. These maintenance funds are critical to the future of our campus.
As you know, we have worked hard to move forward the RISE Initiative (Research Investment to Stimulate the Economy), funds that would target research expansion. Governor Haslam recommended an initial investment in this effort of $5,000,000. Future commitments will depend on the next Governor. Governor Haslam's recommendation will be coupled with our own 5-year commitment of $5,000,000 in doctoral program and research expansion. These funds will prove potentially historic for the UofM, providing an opportunity to grow our research commitment and infrastructure in genuine fashion. You will receive additional details in the coming weeks about our internal commitment and the process we will follow in making allocations.
Please remember that at this point, these are only recommendations. The state budget will not be final until May at the earliest. We will keep you updated as the session moves forward.
Thank you for your hard work and dedication to our students, campus and community. We are making progress and have every reason to be optimistic about the coming year.
M. David Rudd
President | Distinguished University Professor