University News

President Updates Budget Status

May 14, 2004

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May 14, 2004

Dear Campus Community,

Late Thursday afternoon, I received official notification that we are to lapse two percent of our general revenue budget for this fiscal year (FY04). Please know that we have been preparing for a callback of budget with our Vice Presidents. We had asked the campus, at the beginning of the fiscal year, to protect two percent of our budget for just such a circumstance.

We are very concerned over the lateness in the fiscal year of this callback and the impact it will have on our ability to deal with significant deferred maintenance projects, necessary purchases and other significant needs which had been identified when we hoped we might be able to release these funds. However, I want to assure the campus that the rescission will not result in a reduction of summer school.

Please know that I appreciate all of the support during these difficult and uncertain budgetary times. We will continue to review this issue with our legislators and others. We will provide additional information on our FY04 and FY05 budgets once it is available. Again, thanks so much for all of your assistance, patience, and support.

Alvin Goldfarb

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Office of University Relations