At yesterday’s FAMU Board of Trustees Budget and Finance Committee meeting, Chief Financial Officer Teresa Hardee rolled out a budget reduction plan that had both good news and bad news.
The good news: FAMU will not close any academic programs.
The bad news: There will be layoffs.
While specifics are not yet finalized, FAMU will leave a large number of open positions unfilled. Among the group of filled positions that will be affected, most will be vacated as a result of attrition (retirement). The remaining minority will be laid off.
Fortunately, the stimulus funds that U.S. President Barack Obama pushed through Congress will provide some relief.
The faculty salary budget is being cut by $3,854,010, but will get back $2,366,657 through stimulus funds. Net loss: $1,487,353.
The administrative and professional salary budget will lose $1,826,954 but will get back $970,936 from stimulus funds. Net loss: $856,018.
The university support personnel staff salary budget will lose $2,027,983 but will get back $1,391,480 from stimulus funds. Net loss: $636,503.
FAMU took a $16,246,516 hit in recurring appropriations during the 2009 legislative session. That comes on top of a $16,773,772 cut last year.
During the 2008-2009 year, FAMU absorbed the budget crunch by paring back spending at numerous administrative divisions and colleges. The steepest cuts were at Enterprise Information and Technology ($4,210,915), the Division of Academic Affairs ($3,948,139), and the University Reserve ($3,743,345).
The good news: FAMU will not close any academic programs.
The bad news: There will be layoffs.
While specifics are not yet finalized, FAMU will leave a large number of open positions unfilled. Among the group of filled positions that will be affected, most will be vacated as a result of attrition (retirement). The remaining minority will be laid off.
Fortunately, the stimulus funds that U.S. President Barack Obama pushed through Congress will provide some relief.
The faculty salary budget is being cut by $3,854,010, but will get back $2,366,657 through stimulus funds. Net loss: $1,487,353.
The administrative and professional salary budget will lose $1,826,954 but will get back $970,936 from stimulus funds. Net loss: $856,018.
The university support personnel staff salary budget will lose $2,027,983 but will get back $1,391,480 from stimulus funds. Net loss: $636,503.
FAMU took a $16,246,516 hit in recurring appropriations during the 2009 legislative session. That comes on top of a $16,773,772 cut last year.
During the 2008-2009 year, FAMU absorbed the budget crunch by paring back spending at numerous administrative divisions and colleges. The steepest cuts were at Enterprise Information and Technology ($4,210,915), the Division of Academic Affairs ($3,948,139), and the University Reserve ($3,743,345).
The university president’s office also took a $293,798 cut last year.
As another cost-saving measure, the administration plans to combine summer sessions "A" and "C" into one.
It sounds like some people are starting to use their reasoning skills. Rest assured change is coming . If God can trust us to manage a little then he will bless us with alot.
ReplyDeleteTrue TD...I hate to hear of folks losing their jobs though...
ReplyDeleteI agree job lose is never easy. It is flat out unfortunate.
ReplyDeleteChange is coming....LOL! That is the truth....higher taxes, lower economic impact...less money for FAMU....less out of state students at FAMU....lots more firings...
ReplyDelete