What is the state of the Georgia Tech budget for the remainder of fiscal year 2010?
On May 6, 2010, the governor signed an amended FY10 state budget to reflect the continued downturn in the receipt of state revenues. This was not unexpected and through a combination of additional federal stimulus funds, the mid-year reductions we implemented last fall, and careful stewardship, we appear to be well positioned to close the current fiscal year successfully. We believe that the steps taken to date to set aside contingencies and reserves, the additional workload allocation, new tuition revenues, and the diligent efforts of our campus community have positioned us well for the forthcoming fiscal year. These changes will allow us to begin FY11 with a budget that is essentially comparable to how we will end FY10. However, we still face lean budget circumstances as we enter the new fiscal year, and we all must do our best to ensure wise and careful stewardship of the resources entrusted to us.
