Impacts of the New State Budget on NC State
To Students, Faculty and Staff,
I hope that all of you have been enjoying an exciting and productive summer. During this time, the General Assembly has been busy as well and recently passed a budget for the next two fiscal years. The Governor signed the spending plan on July 26. Since the budget directly affects the UNC System and NC State, I want to take a moment to share the highlights with you.
To start with, need-based financial aid and enrollment growth received funding that will allow us to continue admitting the bright, passionate students that make our university remarkable. In addition, funds for building reserves and repairs and renovations were provided so that we can improve campus infrastructure in keeping with our strategic plan. Finally, NC State is excluded from a 12% tuition increase on our out-of-state undergraduates, ensuring that we can still offer one of the country’s best values in education to some of the sharpest minds from across the nation.
The budget also includes reductions in funding, the most significant of which are to management flexibility and savings through strategic plan initiatives previously planned by the UNC System. Our employees did not receive a salary increase, but the budget does provide 5 days of special bonus leave as well as more flexibility with compensation increases for faculty and staff for the purposes of retention and equity.
There are still a number of steps before we will know the budget’s impact on NC State. The Board of Governors will hold a meeting in the coming weeks to determine the distribution of the management flexibility reduction. I am participating in and following this process very closely, and I will keep you updated on important new information.
NC State has faced economic challenges before, and as always, we will come out even stronger. Through strategic planning and smart decision-making, we will move forward, carrying on with the momentum that we have established as a leader in education, research, and innovation.
NC State University