{"639110":{"#nid":"639110","#data":{"type":"news","title":"Stronger Than Expected Enrollment Eases Some Budget Reductions","body":[{"value":"\u003Cp\u003ESince last spring, Georgia Tech has been reworking its Fiscal Year 2021 budget due to the coronavirus pandemic and the ripple effect it is having on the state\u0026rsquo;s and Institute\u0026rsquo;s revenue. In addition to the budget cut to state appropriations of 8.7% (or $29.1 million), Georgia Tech also planned for an additional reduction of 2.5% across the Institute to help account for expected shortfalls in student tuition and fee revenue. As the fall semester has begun, however, student enrollment is more favorable than expected, which translates into a lesser reduction to the overall budget.\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026ldquo;We are grateful that fall enrollment is looking better than we thought it would be,\u0026rdquo; said Kelly Fox, executive vice president for Administration and Finance. \u0026ldquo;Because of tuition and associated revenues, we are in a better position than we expected, and all of the proposed additional 2.5% budget cut will not be needed by all units at this time.\u0026rdquo;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EIn total, the Institute is reducing its budget by $32.2 million. Specific unit reductions were distributed last week through the budget amendment process. In addition, an update on the remainder of the FY20 carry forward will be distributed to financial managers prior to the October budget amendment.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EIn line with the principles established when the budget revision began in May, all final budget action plans are to align with the following strategic priorities:\u003C\/p\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EProtecting student academic progression and quality of instruction.\u0026nbsp;\u003C\/li\u003E\r\n\t\u003Cli\u003EProtecting sponsored research that is self-funding and contributes to supporting our infrastructure and reputation.\u0026nbsp;\u0026nbsp;\u0026nbsp;\u003C\/li\u003E\r\n\t\u003Cli\u003EProtecting as much employment as possible while acknowledging that some personnel will inevitably be affected.\u003C\/li\u003E\r\n\u003C\/ul\u003E\r\n\r\n\u003Cp\u003EGeorgia Tech will submit its updated FY21 budget, including proposed workforce strategies, to the University System of Georgia this week. It is expected that budget related action items will be implemented over the next month.\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026ldquo;Even with the better than expected enrollment, Georgia Tech is still taking a significant budget cut, which required that difficult decisions had to be made,\u0026rdquo; added Fox. \u0026ldquo;We know that this uncertainty has caused\u202fstress and anxiety, and we remain deeply committed to ensuring that all actions\u202fwill be\u202ftaken\u202fwith fairness, compassion, and respect.\u0026rdquo;\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThis fall, campus leadership will begin the process of reevaluating Georgia Tech\u0026rsquo;s budgeting process to help ensure greater transparency as well as strategic alignment. Plans are to conduct a town hall for the greater campus community later this fall. More information will be coming soon.\u003C\/p\u003E\r\n","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EAs the fall semester has begun, however, student enrollment is more favorable than expected, which translates into a lesser reduction to the overall budget.\u003C\/p\u003E\r\n","format":"limited_html"}],"field_summary_sentence":[{"value":"Since last spring, Georgia Tech has been reworking its Fiscal Year 2021 budget due to the coronavirus pandemic and the ripple effect it is having on the state\u2019s and Institute\u2019s revenue."}],"uid":"27164","created_gmt":"2020-09-15 14:19:10","changed_gmt":"2020-09-15 14:22:03","author":"Rachael Pocklington","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2020-09-15T00:00:00-04:00","iso_date":"2020-09-15T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"625904":{"id":"625904","type":"image","title":"Tech Tower","body":null,"created":"1568119621","gmt_created":"2019-09-10 12:47:01","changed":"1568119621","gmt_changed":"2019-09-10 12:47:01","alt":"photograph of Tech Tower","file":{"fid":"238292","name":"original.jpg","image_path":"\/sites\/default\/files\/images\/original_8.jpg","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/images\/original_8.jpg","mime":"image\/jpeg","size":859076,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/original_8.jpg?itok=_22eBAH8"}}},"media_ids":["625904"],"groups":[{"id":"64319","name":"Administration and Finance"},{"id":"419211","name":"Financial Services"},{"id":"64303","name":"Human Resources"},{"id":"1214","name":"News Room"}],"categories":[],"keywords":[],"core_research_areas":[],"news_room_topics":[{"id":"71871","name":"Campus and Community"}],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003E\u003Ca href=\u0022mailto:rpocklington@gatech.edu\u0022\u003ERachael Pocklington\u003C\/a\u003E\u003Cbr \/\u003E\r\nInstitute Communications\u003C\/p\u003E\r\n","format":"limited_html"}],"email":[],"slides":[],"orientation":[],"userdata":""}}}