Messages from the Chancellor
Announcement Regarding State Budget
Dear campus colleagues,
It was announced today that the State of Indiana has a $141.3 million dollar shortfall for the current fiscal year.
In a memo we received, "Due to revenue collections missing forecast by $141.3 million through the first five months of FY 2014, Budget Agency is announcing the following additional cost-savings measures to boost the state's bottom line:
- Implementing an additional 1.5% reserve on state agencies: $25 million
- Delaying $2.5 million in planned FY 2014 Indiana Biosciences Research Institute spending: $2.5 million
- Selling the state plane: approximately $2.5 million
- Implementing a 2% reserve on university operating and line-item appropriations: $26.5 million
- Total: $56.5 million
We will begin immediately the process of assessing what this means to IPFW. We will continue to share information as it becomes available.