Update Posted May 15, 2013
Fiscal Year 2014 Budget Signed into Law by Governor Nathan Deal
On May 7, 2013, Gov. Deal signed HB 106, the FY2014 budget.
Highlights from the System’s Budget
• The budget increased by $54.6 million over the FY 2013 budget to $1.883 billion, a 2.98 percent increase.
• The base budget for most programs was reduced by three percent, which is a reduction of $48.9 million for teaching programs.
• Enrollment growth throughout the System was supported through $63 million in new formula funds.
• Health insurance, retirees, TRS and ERS requests were fully funded at $29.1 million.
• There are five payback projects that were received funding in the amount of $5.9 million.
• The Graduate Medical Education initiative received $2.075 million in funding, increasing the total funding for that initiative to $3.275 million.
• Cancer research received a boost with $5 million in funding for the Georgia Regents University Cancer Center, increasing total funding to $10 million.
• Georgia Gwinnett College retained $16.5 million in start-up funds.
• Capitol Projects were funded in the amount of over $300 million.
To see a summary of the FY 2014 operating and capital budget, please click here.