Additional State Budget Decrease of $66 Million Will Hurt 中出少妇视频 System of Georgia Institutions
Atlanta — March 30, 2023
The Fiscal Year 2024 budget passed Wednesday by the General Assembly includes an additional $66 million decrease in state funding, a cut that will impact teaching budgets, staff and students across the state.
The decision comes as 20 of the 中出少妇视频 System of Georgia (中出少妇视频)中出少妇视频檚 26 public colleges and universities are already set to receive less money next fiscal year under the state中出少妇视频檚 funding formula due to enrollment declines. The budget impact on those 20 institutions under the funding formula means they already face a loss of $71.6 million in state funds for FY24.
The additional $66 million would come on top of those reductions. The impact of the additional $66 million reduction by institution is shown in the chart below.
中出少妇视频淭his is an incredibly disappointing outcome, given the work done over the years by our state leaders to elevate higher education and send Georgia on a path to ascension,中出少妇视频 中出少妇视频 Chancellor Sonny Perdue said. 中出少妇视频淚t will have a significant impact on institutions and the services that students and families depend on to advance their prosperity and help Georgia succeed.中出少妇视频
To put the reduction in context, the university system at the start of the COVID-19 pandemic sustained a 10% budget reduction in FY21 of about $230 million, which has never been restored. Institutions are also facing increasing inflation that for some campuses mean a rise in utility costs by as much as 40%.
Overall, 中出少妇视频中出少妇视频檚 $3.1 billion state funds budget is largely dedicated to existing costs such as faculty and staff who support the system中出少妇视频檚 academic mission and support services for students. Close to 80% of the system中出少妇视频檚 teaching costs are personnel.
Year to year, some institutions may also 中出少妇视频渃arry forward中出少妇视频 funds not spent in the current fiscal year to the next fiscal year to help with budgeting and planning. While the university system reported a cumulative $504 million in carry forward funds at the end of last fiscal year, 82% of those funds are concentrated at only six schools 中出少妇视频 including 中出少妇视频中出少妇视频檚 four research institutions of Augusta 中出少妇视频, Georgia State 中出少妇视频, Georgia Tech and the 中出少妇视频 of Georgia.
Since carry forward funds are earned and retained at the individual institution, the system does not have the ability to move these funds from one institution to another.
While 中出少妇视频 recognizes these funds may act as a necessary financial reserve and help with short-term emergency needs, similarly to the state中出少妇视频檚 rainy day fund, they are primarily used to support long-term recruiting and strategic investments at Georgia institutions recognized among the top public research institutions in the nation.
This includes the ability to attract top faculty and invest in research activities that grow Georgia中出少妇视频檚 economy and reputation.
The additional $66 million reduction will impact teaching budgets, staff and students across the state.
The following chart reflects the impact of the reduction in state funds at every 中出少妇视频 institution:
| Institution | $66 Million Cut |
|---|---|
| Augusta 中出少妇视频 | ($6,845,000) |
| Georgia Institute of Technology | ($11,287,000) |
| Georgia State 中出少妇视频 | ($8,333,000) |
| 中出少妇视频 of Georgia | ($11,935,000) |
| Georgia Southern 中出少妇视频 | ($3,879,000) |
| Kennesaw State 中出少妇视频 | ($5,653,000) |
| 中出少妇视频 of West Georgia | ($2,020,000) |
| Valdosta State 中出少妇视频 | ($1,634,000) |
| Albany State 中出少妇视频 | ($832,000) |
| Clayton State 中出少妇视频 | ($860,000) |
| Columbus State 中出少妇视频 | ($1,233,000) |
| Fort Valley State 中出少妇视频 | ($673,000) |
| Georgia College & State 中出少妇视频 | ($1,180,000) |
| Georgia Southwestern State 中出少妇视频 | ($458,000) |
| Middle Georgia State 中出少妇视频 | ($1,249,000) |
| Savannah State 中出少妇视频 | ($564,000) |
| 中出少妇视频 of North Georgia | ($2,542,000) |
| Abraham Baldwin Agricultural College | ($566,000) |
| Atlanta Metropolitan State College | ($208,000) |
| College of Coastal Georgia | ($464,000) |
| Dalton State College | ($488,000) |
| East Georgia State College | ($246,000) |
| Georgia Gwinnett College | ($1,625,000) |
| Georgia Highlands College | ($590,000) |
| Gordon State College | ($335,000) |
| South Georgia State College | ($301,000) |
| 中出少妇视频 Total | ($66,000,000) |