A Message from President Peterson:"With the conclusion of the state legislative session and the monthly Board of Regents meeting occurring within the same week, I wanted to take the opportunity to provide an update on our current financial situation, as well as how some of the actions to date will impact the members of our community.
Prior to its adjournment last week, the Georgia General Assembly passed its proposed Fiscal Year 2012 budget and sent it to the governor for his review and signature. At this point, the expectation is that Georgia Tech will receive another significant reduction in its state appropriation. In addition, the state formula funding — money allocated by the legislature to support growth of an institution’s enrollment — has been frozen for the first time. All told, this represents an additional reduction in the funds available to the Institute of between $16 to $18 million..."
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