{"637815":{"#nid":"637815","#data":{"type":"news","title":"Georgia Tech to Finalize FY21 Budget","body":[{"value":"\u003Cp\u003EGeorgia Tech\u0026rsquo;s Fiscal Year 2021 budget has been through several revisions and iterations, mainly due to the coronavirus pandemic and its effect on state revenues. In July, Georgia Tech announced that in addition to the budget cut to state appropriations of 8.7% (or $29,073,905) approved by the University System of Georgia (USG), it would also require units across campus to plan for an additional reduction of 2.5% to help account for expected shortfalls in student tuition and fee revenue. This additional budget planning exercise does not apply to Georgia Tech Research Institute or the Enterprise Innovation Institute.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EBudget reduction plans were submitted on July 31 to Institute Budget Planning and Administration. Strategic decisions on the reduction amounts and action plans, including workforce strategies, will be reviewed and approved by the Executive Leadership Team beginning next week with a final FY21 budget expected next month. These decisions will be made in alignment with how fall enrollment is projected to materialize. \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026ldquo;I recognize that this has been a challenging process for everybody, and difficult actions were proposed,\u0026rdquo; said Kelly Fox, executive vice president for Administration and Finance. \u0026ldquo;In evaluating our final plan, leadership will focus on student academic progression and quality of instruction; self-funded sponsored research that supports Georgia Tech; and putting people first by protecting as much employment as we can.\u0026rdquo;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EAs a reminder, the USG approved a Voluntary Separation Incentive Program (VSIP), designed to help Georgia Tech achieve its targeted budget reductions. The VSIP is a one-time,\u202flimited,\u202fseparation incentive for retirement-eligible employees. Employees will have until Saturday, August 15, to sign up for the program. Visit \u003Ca href=\u0022https:\/\/hr.gatech.edu\/voluntary-separation\u0022\u003Ehr.gatech.edu\/voluntary-separation\u003C\/a\u003E for more information. \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EFox added that because of the unpredictability of the pandemic, state and associated budgets will most likely remain fluid for the next year or so. \u0026ldquo;We acknowledge the\u202fstress and anxiety caused by this uncertainty and remain deeply committed to ensuring that all actions\u202fwill be\u202ftaken\u202fwith fairness, compassion, and respect.\u0026rdquo; \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EMore information will be announced as soon as it becomes available.\u003C\/p\u003E\r\n","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EStrategic decisions on the reduction amounts and action plans, including workforce strategies, will be reviewed and approved by the Executive Leadership Team beginning next week with a final FY21 budget expected next month.\u003C\/p\u003E\r\n","format":"limited_html"}],"field_summary_sentence":[{"value":"Georgia Tech\u2019s Fiscal Year 2021 budget has been through several revisions and iterations, mainly due to the coronavirus pandemic and its effect on state revenues. "}],"uid":"27164","created_gmt":"2020-08-12 20:33:48","changed_gmt":"2020-08-12 20:33:48","author":"Rachael Pocklington","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2020-08-12T00:00:00-04:00","iso_date":"2020-08-12T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"625904":{"id":"625904","type":"image","title":"Tech Tower","body":null,"created":"1568119621","gmt_created":"2019-09-10 12:47:01","changed":"1568119621","gmt_changed":"2019-09-10 12:47:01","alt":"photograph of Tech Tower","file":{"fid":"238292","name":"original.jpg","image_path":"\/sites\/default\/files\/images\/original_8.jpg","image_full_path":"http:\/\/www.tlwarc.hg.gatech.edu\/\/sites\/default\/files\/images\/original_8.jpg","mime":"image\/jpeg","size":859076,"path_740":"http:\/\/www.tlwarc.hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/original_8.jpg?itok=Z2iDzKaN"}}},"media_ids":["625904"],"groups":[{"id":"64319","name":"Administration and Finance"},{"id":"419211","name":"Financial Services"},{"id":"64303","name":"Human Resources"},{"id":"220261","name":"Finance and Planning"},{"id":"1214","name":"News Room"}],"categories":[],"keywords":[],"core_research_areas":[],"news_room_topics":[{"id":"71871","name":"Campus and Community"}],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003E\u003Ca href=\u0022mailto:rpocklington@gatech.edu\u0022\u003ERachael Pocklington\u003C\/a\u003E\u003Cbr \/\u003E\r\nInstitute Communications\u003C\/p\u003E\r\n","format":"limited_html"}],"email":[],"slides":[],"orientation":[],"userdata":""}}}