{"542241":{"#nid":"542241","#data":{"type":"news","title":"Board of Regents Approves Georgia Tech\u2019s Fiscal 2017 Budget","body":[{"value":"\u003Cp\u003EIn May, the Board of Regents (BOR) approved the fiscal 2017 budgets for Georgia Tech as well as other schools in the University System of Georgia. The following questions and answers below outline key actions taken by the BOR and provide an overview of Georgia Tech\u2019s approved budget for the fiscal year beginning July 1, 2016.\u003C\/p\u003E\u003Ch5\u003EWhat did the BOR approve for fiscal year 2017?\u0026nbsp;\u003C\/h5\u003E\u003Cp\u003E\u003Cstrong\u003ETuition:\u003C\/strong\u003E\u003C\/p\u003E\u003Cul\u003E\u003Cli\u003EThere will be no rate increases for fiscal year 2017.\u003C\/li\u003E\u003C\/ul\u003E\u003Cp\u003E\u003Cstrong\u003EMandatory Fees:\u003C\/strong\u003E\u003C\/p\u003E\u003Cul\u003E\u003Cli\u003EThere will be a $4 increase in the Transportation Fee, which pays for Stingers, Tech Trolley, and Stingerette operations, from $81 per semester to $85. This is paid by all students who are taking courses on the Atlanta campus.\u003C\/li\u003E\u003Cli\u003EThere will be no change in other mandatory fees including student health, athletics, student activity, technology, and special institutional.\u003C\/li\u003E\u003C\/ul\u003E\u003Cp\u003E\u003Cstrong\u003EElective Fees:\u003C\/strong\u003E\u003C\/p\u003E\u003Cul\u003E\u003Cli\u003EApproved by President Peterson;\u003C\/li\u003E\u003C\/ul\u003E\u003Cul\u003E\u003Cli\u003EElective fees include various changes in housing, parking, food service, and other fees. Learn more at \u003Ca href=\u0022http:\/\/www.budgets.gatech.edu\/Tuition\u0022\u003Ewww.budgets.gatech.edu\/Tuition\u003C\/a\u003E.\u003C\/li\u003E\u003C\/ul\u003E\u003Cp\u003E\u003Cstrong\u003EState Funding Allocations:\u003C\/strong\u003E\u003C\/p\u003E\u003Cul\u003E\u003Cli\u003EAdditional $22.9 million of new \u201cformula\u201d funding for General Operations:\u003C\/li\u003E\u003Cul\u003E\u003Cul\u003E\u003Cli\u003ENew formula funding based on increased enrollment of $12.9 million, a 5.9 percent increase from the previous year.\u003C\/li\u003E\u003Cli\u003EGeneral Operations funding for portion of pay raises and mandatory cost increases totaling $10 million.\u003C\/li\u003E\u003C\/ul\u003E\u003C\/ul\u003E\u003C\/ul\u003E\u003Cul\u003E\u003Cli\u003EEarmarked funding increases for GTRI and Enterprise Innovation Institute (EI2) to cover merit increases.\u003C\/li\u003E\u003Cli\u003EEarmarked funding for EI2 for Invest Georgia Program and ATDC (Advance Technology Development Center).\u003C\/li\u003E\u003Cli\u003EA share of the $60 million statewide funding for Major Repair and Rehabilitation (MRR).\u003C\/li\u003E\u003C\/ul\u003E\u003Cp\u003ENOTE:\u0026nbsp; Some of the \u201cnew funding\u201d approved was one-time money and also replacement funding for reductions in the current year.\u0026nbsp;\u003C\/p\u003E\u003Cp\u003E\u003Cstrong\u003EBOR\u2019s Merit Pay Policy:\u003C\/strong\u003E\u003C\/p\u003E\u003Cul\u003E\u003Cli\u003EBOR approved a merit-based raise program with raises not to exceed 5 percent unless approved by the USG Chancellor.\u003C\/li\u003E\u003Cli\u003EAcross-the-board raises are prohibited.\u003C\/li\u003E\u003C\/ul\u003E\u003Ch5\u003EWhat is Georgia Tech\u2019s internal merit pay policy?\u003C\/h5\u003E\u003Cul\u003E\u003Cli\u003E\u0026nbsp;To be eligible for merit pay, employees must meet the conditions for merit raises stated in \u003Ca href=\u0022http:\/\/www.budgets.gatech.edu\/File?F=306\u0022\u003EPresident\u2019s letter\u003C\/a\u003E.\u003C\/li\u003E\u003Cli\u003EThere are also defined funding sources that are used to cover merit increases.\u003C\/li\u003E\u003Cli\u003EHuman Resources is currently reviewing proposed merit increases for compliance with the President\u2019s letter.\u003C\/li\u003E\u003Cli\u003ESupervisors will receive final approval to notify employees about raises in early June.\u0026nbsp;\u0026nbsp;\u003C\/li\u003E\u003C\/ul\u003E\u003Ch5\u003EWhere can I get more information on the Georgia General Assembly\u2019s and BOR actions?\u003C\/h5\u003E\u003Cp\u003ESee \u003Ca href=\u0022http:\/\/www.copp.gatech.edu\/capitol-buzz-newsletter-archives\u0022\u003ECapitol Buzz\u003C\/a\u003E issues published by the Office of Government and Community Relations.\u0026nbsp;\u003C\/p\u003E\u003Ch5\u003EHow large is Georgia Tech\u2019s approved fiscal 2017 budget?\u003C\/h5\u003E\u003Cp\u003EThe fiscal 2017 budget is $1.66 billion from all sources (excluding affiliate organizations). This is an increase from $1.5 billion in fiscal 2016. The chart insert (picture right) details the major funding sources for Georgia Tech\u0027s fiscal 2017 budget.\u003C\/p\u003E\u003Ch5\u003EWhat have been the trends in state funding versus tuition revenue?\u003C\/h5\u003E\u003Cp\u003ETuition surpassed state funding for Georgia Tech for the first time in fiscal 2011, with state funding declining as a percentage of the budget since fiscal 2009 and tuition revenue increasing.\u003C\/p\u003E\u003Cp\u003ESince the start of fiscal year 2009 (when state budget reductions began), Georgia Tech has lost 35 percent of its state funding.\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EIn May, the Board of Regents (BOR) approved the fiscal 2017 budgets for Georgia Tech as well as other schools in the University System of Georgia.\u003C\/p\u003E","format":"limited_html"}],"field_summary_sentence":[{"value":"In May, the Board of Regents (BOR) approved the fiscal 2017 budgets for Georgia Tech as well as other schools in the University System of Georgia."}],"uid":"27164","created_gmt":"2016-06-06 13:53:02","changed_gmt":"2016-10-08 03:21:49","author":"Rachael Pocklington","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2016-06-06T00:00:00-04:00","iso_date":"2016-06-06T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"542231":{"id":"542231","type":"image","title":"FY 2017 Revenue by Source","body":null,"created":"1465333200","gmt_created":"2016-06-07 21:00:00","changed":"1475895331","gmt_changed":"2016-10-08 02:55:31","alt":"FY 2017 Revenue by Source","file":{"fid":"90680","name":"revenue_by_source_fy17.jpg","image_path":"\/sites\/default\/files\/images\/revenue_by_source_fy17.jpg","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/images\/revenue_by_source_fy17.jpg","mime":"image\/jpeg","size":28271,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/revenue_by_source_fy17.jpg?itok=zy4irUCh"}}},"media_ids":["542231"],"related_links":[{"url":"http:\/\/www.budgets.gatech.edu\/","title":"Institute Budget Planning and Administration"},{"url":"http:\/\/gov.gatech.edu\/capitol-buzz-newsletter-archives","title":"Capital Buzz Newsletters"}],"groups":[{"id":"64319","name":"Administration and Finance"}],"categories":[{"id":"129","name":"Institute and Campus"}],"keywords":[{"id":"4195","name":"budget"}],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003E\u003Ca href=\u0022mailto:jim.kirk@business.gatech.edu\u0022\u003EJim Kirk\u003C\/a\u003E\u003Cbr \/\u003EExecutive Director\u003Cbr \/\u003EInstitute Budget Planning \u0026amp; Administration\u003C\/p\u003E","format":"limited_html"}],"email":[],"slides":[],"orientation":[],"userdata":""}}}