Budget Reduction Update

As I mentioned on Monday morning at the Faculty Development Institute (click here for Beginning New Academic Year speech), we face new FY 2010 budget challenges and opportunities. 

As you may know, on August 26, the Board of Public Works approved Governor O’Malley’s recommended cut of $454 million from the state’s FY 2010 budget. The approved cut reduces the appropriation for the University System of Maryland by $10 million and transfers $20 million in fund balances from USM institutions.  USM institutions will also be required to implement temporary salary reductions totaling $26 million through furloughs and other salary adjustments.

The cut in the appropriation for USM will require Bowie State University to reduce its operating budget by $329,150 and decreases our fund balance by $658,300.  Discussions are currently underway at the Chancellor’s Office to determine the furlough target amounts for all USM institutions.  After review and approval by the Board of Regents, the amounts will be shared with the institutions. 

These cuts and temporary salary reductions come at a very difficult time as we continue to improve our academic programs and enhance student services. With your continued support and commitment, however, I am sure we will come out of these hard economic times as a stronger Bowie State University.