Voluntary buyout plans, energy efficient buildings, and roofs that don’t leak when it rains — these are the items college administrators in Tennessee have in mind when it comes to spending an additional $312 million in federal and state stimulus funding this year and next.
The one big exception that schools can’t pay for with the extra money is new buildings.
That may be just as well. After receiving additional funding this year, and anticipating an extra $253.3 million in stimulus funds for 2010-2011, Tennessee’s higher education system must brace for a $180 million funding cut.
The money-saving measures being considered now will be key to schools winning state and federal approval for their proposed budgets, which must be submitted in the coming weeks.
The state legislature must then pass the spending plans as part of the governor’s budget, and the federal government, in turn, must approve the state’s stimulus plans. So far, eight states, including California, Illinois and Mississippi, have received the stabilization funds that include money for higher education.
“It certainly is one of the more important projects not just for me, but for the university and the state,” said David Millhorn, UT executive vice president. “We have to make sure these short-term investments have long-term implications.”
Full Story Here: Tennesseean.com
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