Losses will climb to $340 to $350 million as other funding sources falter during the summer, said Wrigley, citing lost income from canceled camps, professional learning programs, study abroads and other events.
>> RELATED | Georgia University System revenue losses from coronavirus expected to reach $350M
Wrigley said the losses will be offset in part by a short-term infusion of $125 million that the University System of Georgia hopes to receive from the CARES Act, the $2 trillion federal coronavirus legislation designed to provide financial relief to states, corporations, citizens and schools.
"There will be economic and fiscal impacts on our campuses," he told the regents. "We want to get on the other side of this thing in a strong position."