Dear Faculty and Staff:
Last week was the Governor's State of the State Address. As is custom, the Governor unveiled his proposed budget for the upcoming fiscal year. Attached is a summary of the Governor's budget recommendations distributed by the TN Higher Education Commission. In short, the Governor has proposed a budget that is very promising not only for higher education in general, but the University of Memphis as well. Not only will our recurring state allocation increase, the Governor has also recommended $29 million in state funds for our new music center and $14 million for capital maintenance. The importance of the maintenance funds cannot be overstated.
Our goal for the coming fiscal year budget will be to generate a three percent salary pool. As you know, the UofM has a number of additional requests that we will be pursuing in the coming months. A word of caution, the Governor's budget recommendations are only that, recommendations. The state budget will not be finalized until spring. I will keep you updated as the legislature moves forward.
I hope the semester is going smoothly. Again, thank you for your dedication to our students, University and community.
M. David Rudd
President | Distinguished University Professor