The University System of Georgia is seeking nearly $25.5 million more in state funding for the next fiscal year to run the state’s 26 public colleges.
The Board of Regents on Thursday approved an operating budget request of $3.14 billion in state funding for the 2024 fiscal year, up from about $3.12 billion for the current year.
The request for more operating dollars is driven largely by rising health insurance costs for the system’s employees and retirees, system officials said. Other factors include the number of student credit hours and an increase in the square footage of campus buildings that the system maintains and operates.
Regents also are asking for $204.2 million for capital projects, the bulk of which would pay for designing, constructing and equipping buildings at more than a dozen schools across the state.
The funding request now goes to the governor’s office and will require approval by the Georgia General Assembly.