State Agencies to Develop Proposals to Reduce Spending
On Aug. 6, the office of Georgia Gov. Brian Kemp issued a news release directing all state agencies, including the University of System of Georgia (USG), to develop proposals to reduce spending by 4% in the amended FY 2020 budget — the current fiscal year — and by 6% in the FY 2021 budget.
As clarified in further instructions to USG leadership, the Board of Regents will be required to submit reduction plans for non-formula driven programs. The Teaching Formula, which supports the Institute’s primary Resident Instruction budget, is currently exempt from these requirements. The USG will continue to work with the governor’s Office of Planning and Budget throughout the fall budget process for further guidance.
“All of us at Georgia Tech are committed to driving efficiencies and are actively working to develop a plan to address the governor’s directive,” said Jim Fortner, interim executive vice president for Administration and Finance. “While we are not required to submit a reduction plan for the Institute as a whole, we will remain conservative in our budget planning and remain flexible should this directive change.”
More information will be provided as soon as it becomes available.