Regents approve budget for all colleges

By Laura Diamond

The Atlanta Journal-Constitution

The State Board of Regents Wednesday approved the 2011 fiscal year budgets for all 35 colleges in the University System of Georgia. The new budget goes into effect July 1.

The budgets includes some cuts – such as the elimination of 78 faculty positions at the University of Georgia; capping some faculty compensation at Georgia State University; and a reduction in staff at Georgia Tech producing a high student faculty ratio of 23:1.

The cuts were done because the system received about $227 million less from the state. State agencies received less money as the Legislature closed a nearly $1 billion budget shortfall.

These cuts are not as severe as earlier feared. Colleges are receiving about $23 million in federal stimulus money and additional revenue from a higher tuition that will go into effect this fall.