Chancellor’s Budget Update (2.16.09)
Monday, February 16, 2009
Since early fall NC State University–like all UNC System institutions and state government agencies–has been developing plans to meet budget shortfalls brought on by a weak economy. It is a two-part process: an immediate one-time mid-year reduction as well as a permanent reduction for the fiscal year beginning July 1.
We met the mandated one-time six percent reduction. As of this week, we are making plans based on the most likely scenario for a permanent seven percent reduction. A seven percent decrease translates to more than $36 million reduction for NC State. Continue Reading »