Board of Regents Approves Georgia Tech’s Fiscal 2017 Budget

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Atlanta, GA | Posted: June 6, 2016

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Jim Kirk
Executive Director
Institute Budget Planning & Administration

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Summaries

Summary Sentence:

In May, the Board of Regents (BOR) approved the fiscal 2017 budgets for Georgia Tech as well as other schools in the University System of Georgia.

Full Summary:

In May, the Board of Regents (BOR) approved the fiscal 2017 budgets for Georgia Tech as well as other schools in the University System of Georgia.

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  • FY 2017 Revenue by Source FY 2017 Revenue by Source
    (image/jpeg)

In May, the Board of Regents (BOR) approved the fiscal 2017 budgets for Georgia Tech as well as other schools in the University System of Georgia. The following questions and answers below outline key actions taken by the BOR and provide an overview of Georgia Tech’s approved budget for the fiscal year beginning July 1, 2016.

What did the BOR approve for fiscal year 2017? 

Tuition:

  • There will be no rate increases for fiscal year 2017.

Mandatory Fees:

  • There will be a $4 increase in the Transportation Fee, which pays for Stingers, Tech Trolley, and Stingerette operations, from $81 per semester to $85. This is paid by all students who are taking courses on the Atlanta campus.
  • There will be no change in other mandatory fees including student health, athletics, student activity, technology, and special institutional.

Elective Fees:

  • Approved by President Peterson;

State Funding Allocations:

  • Additional $22.9 million of new “formula” funding for General Operations:
      • New formula funding based on increased enrollment of $12.9 million, a 5.9 percent increase from the previous year.
      • General Operations funding for portion of pay raises and mandatory cost increases totaling $10 million.
  • Earmarked funding increases for GTRI and Enterprise Innovation Institute (EI2) to cover merit increases.
  • Earmarked funding for EI2 for Invest Georgia Program and ATDC (Advance Technology Development Center).
  • A share of the $60 million statewide funding for Major Repair and Rehabilitation (MRR).

NOTE:  Some of the “new funding” approved was one-time money and also replacement funding for reductions in the current year. 

BOR’s Merit Pay Policy:

  • BOR approved a merit-based raise program with raises not to exceed 5 percent unless approved by the USG Chancellor.
  • Across-the-board raises are prohibited.
What is Georgia Tech’s internal merit pay policy?
  •  To be eligible for merit pay, employees must meet the conditions for merit raises stated in President’s letter.
  • There are also defined funding sources that are used to cover merit increases.
  • Human Resources is currently reviewing proposed merit increases for compliance with the President’s letter.
  • Supervisors will receive final approval to notify employees about raises in early June.  
Where can I get more information on the Georgia General Assembly’s and BOR actions?

See Capitol Buzz issues published by the Office of Government and Community Relations. 

How large is Georgia Tech’s approved fiscal 2017 budget?

The fiscal 2017 budget is $1.66 billion from all sources (excluding affiliate organizations). This is an increase from $1.5 billion in fiscal 2016. The chart insert (picture right) details the major funding sources for Georgia Tech's fiscal 2017 budget.

What have been the trends in state funding versus tuition revenue?

Tuition surpassed state funding for Georgia Tech for the first time in fiscal 2011, with state funding declining as a percentage of the budget since fiscal 2009 and tuition revenue increasing.

Since the start of fiscal year 2009 (when state budget reductions began), Georgia Tech has lost 35 percent of its state funding.

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Administration and Finance

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Institute and Campus
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Keywords
budget
Status
  • Created By: Rachael Pocklington
  • Workflow Status: Published
  • Created On: Jun 6, 2016 - 9:53am
  • Last Updated: Oct 7, 2016 - 11:21pm