President, Provost Outline Budget Situation for GMU
Posted: March 7, 2002 at 1:00 am, Last Updated: November 30, -0001 at 12:00 am
A snapshot of the current budget discussions currently underway within Virginia’s General Assembly and its possible impact on George Mason was presented jointly by President Alan Merten and Provost Peter Stearns at yesterday’s meeting of the general faculty.
The university, they reported, is looking at possible budget cuts for FY2003-2004 totaling $14.3 million. If this happens, George Mason would cut approximately $6.2 million from its budget, leaving the university with a budget shortfall of $8.1 million. To counter this, the university is considering the following measures if the budget reductions proposed by the Senate become a reality: raising tuition by $400 for in-state students and $1,000 for out-of-state students, while also increasing financial aid resources; and implementing a number of cuts that include leaving approximately 65 vacant faculty and staff positions unfilled.
“In our judgment, what we are considering in terms of dealing with the current budget situation is manageable and will not do damage to the foundation of the university’s overall endeavor,” said Stearns.
Merten noted it appears likely that a higher education bond referendum will be on the November ballot that, if approved by the voters, will result in significant monies for George Mason and its sister institutions to address their respective building needs.