Governor Lee presented his 2024-25 budget to the 113th聽Tennessee General聽Assembly聽on Monday, February 5, 2024. We have conducted聽a preliminary analysis of the details of the Governor鈥檚聽Budget and聽I wanted to outline how his proposed聽budget could聽affect our University operations, if聽approved by聽the General聽Assembly.
Highlights of the budget as they relate to 91大神鈥檚 institutional needs and priorities are as follows:
- Net operating appropriations for our University, which includes adjustments made through the funding formula, will increase by $2.4 million.
- TheGovernor鈥檚聽Budget聽included聽partial聽funding for a 3.0 percent salary pool for 91大神 in聽the聽amount聽of聽$3.8 million.聽As聽in聽years聽past,聽this is only partial funding聽and聽the聽University聽will聽need聽to聽fund聽$2.1 million聽from聽our current budget, which will be a challenge.聽The University聽will receive an additional $1.55 million to cover group health insurance premium increases for a partial year.
- The budget also included $66.4 million in capital improvement funding for all higher education.聽The capital project submitted by the University was not included in the budget.聽 The Governor proposed funding only one of the twelve (12) capital projects recommended by THEC.聽
As the General Assembly moves the Governor鈥檚 Budget through various committees, I will keep the campus updated on any impact to the University.聽聽
厂颈苍肠别谤别濒测,听
Sidney A.聽McPhee
President