Wednesday, February 04, 2009
Penn State faces a $21 million cut in state funding with next year's proposed state budget announced in Harrisburg Feb. 4.
"The University understands the extraordinary circumstances faced by the Commonwealth and is prepared to do its part," said President Graham Spanier. (more)
Thursday, December 11, 2008
Colleges and universities are facing difficult financial decisions stemming from the widening global economic crisis. In a discussion this week at Faculty Senate, Penn State President Graham Spanier reassured community members that the University is on solid financial ground, but will face serious challenges because of a $21.2 million recission from the state. (more)
Thursday, October 09, 2008
Penn State has been asked by Pennsylvania's Secretary of the Budget to plan for a $15 million budget cut this year, as the state's revenues continue to run below projections. (more)
Friday, September 19, 2008
University Park, Pa. -- Penn State's Board of Trustees today (Sept. 19) authorized the University to request $130.7 million from the Pennsylvania Legislature for a number of future capital projects. Each year at this time, Penn State provides a status of its overall five-year capital plan and presents a capital budget request to the Board of Trustees for approval. (more)
Friday, September 19, 2008
Penn State's Board of Trustees today (Sept. 19) approved the University's proposed 2009-10 budget plan and state appropriation request. The University is seeking an appropriation increase from the Commonwealth of $24.5 million, or 6.9 percent. Of this amount, $18.6 million is requested for the Educational and General line-item, and $4.9 million for its other line-items. An increase of $1 million also is being requested in State and Federal Medical Assistance funding provided to the Penn State Milton S. Hershey Medical Center through the Pennsylvania Department of Public Welfare. The total appropriation request for 2009-10 is $377.3 million. (more)
Monday, July 07, 2008
Penn State will receive a 1.2 percent increase in state appropriation for the 2008-09 fiscal year as a result of the new budget approved by the Senate and the House and signed by Pennsylvania Gov. Edward Rendell over the holiday weekend. The total appropriation for Penn State for this fiscal year is $338.4 million, an increase of $4.1 million over last year. (more)
Friday, September 07, 2007
A change in Penn State's appropriation from the state has resulted in a revised budget being presented today (Sept. 7) to the Board of Trustees. At its meeting on July 13, the board approved an operating budget for the fiscal year beginning July 1, 2007, which included an estimated state appropriation. Subsequently, Gov. Ed Rendell signed Penn State's appropriation bill of $334.2 million. In addition, $14.5 million of state and federal medical assistance funds for the Penn State Milton S. Hershey Medical Center also will be provided through the Pennsylvania Department of Public Welfare. (more)
Friday, September 07, 2007
Penn State's Board of Trustees today (Sept. 7) approved the University's proposed 2008-09 budget plan and state appropriation request. The University is seeking an appropriation increase from the Commonwealth of $24.2 million, or 6.9 percent. Of this amount, $18.3 million is requested for the Educational and General line-item, and $4.9 million for its other line-items. An increase of slightly more than $1 million also is being requested in State and Federal Medical Assistance funding provided to the Penn State Milton S. Hershey Medical Center through the Pennsylvania Department of Public Welfare. Penn State's 2008-09 budget request reflects the University's need to keep pace with the rising costs associated with carrying out its land-grant, public university mission and the need to continue providing high-quality programs for its students. "The funds will be used to help support the University's basic operating cost increases, with emphases on competitive faculty and staff salary adjustments, escalating health-care costs, deferred maintenance and facilities improvements, and strategic academic program initiatives," said Penn State President Graham B. Spanier. (more)
Friday, July 13, 2007
Although the state Legislature has not yet passed a budget for the 2007-08 fiscal year, Penn State's Board of Trustees has approved the University's operating budget. The $3.4 billion budget is based on the governor's executive budget recommendation, which would amount to a projected $332.9 million appropriation from the state. Should the actual appropriation differ, the University would present a revised budget to the trustees at a later date.
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Tuesday, February 27, 2007
Penn State President Graham B. Spanier appeared before the Pennsylvania House Appropriation Committee Tuesday (Feb. 27) morning, and will appear before the Pennsylvania State Appropriation Committee Tuesday afternoon. To read his statement, visit http://live.psu.edu/story/22584 (more)