Letter to the ODU Community from President Broderick Regarding Gov. Kaine's Budget Reduction Plan
Governor Kaine announced today his executive spending reduction plan to meet the FY2010 revenue shortfall of $1.35 billion. The Governor's plan trims government spending by reducing the scope of some government programs, while protecting K-12 education and other critical government functions.
The 15% reduction target for Old Dominion University is $14.2 million. However, a portion of the reductions to higher education in FY2010 will be offset with the use of a portion of State Fiscal Stabilization Funds set aside for FY2011 (subject to federal approval). Therefore, the University's general fund budget reductions in FY2010 will be approximately $7.6 million.
The University implemented several year-end budget actions to help buffer the impact of these anticipated budget reductions for the current fiscal year. These one-time funds and additional non-general fund revenue from this Fall's enrollment growth will preclude the need to abolish filled positions in FY2010, which would have resulted in layoffs.
Despite this major budget reduction for FY2010, Old Dominion University has also minimized the impact on students and their families by not implementing a mid-year tuition increase in FY2010.
The Governor also announced a one-day furlough for all state employees. Several options for implementing this one-day furlough are under review and the actual furlough date will be announced with sufficient lead time for employees to plan accordingly.
Thank you for your cooperation during these challenging fiscal times. As further details are forthcoming, we will keep you posted on this information and the components of the University's FY2010 and subsequent years' budget reduction plans.
John R. Broderick
This article was posted on: September 8, 2009
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