June 22, 2012 – Budget Update
To NC State Faculty, Staff and Students,
Now that the General Assembly has passed this year’s revised budget, I wanted to share some of the details, especially as they affect NC State and the UNC System. Keep in mind that the budget is not final yet. The Governor has 10 days to sign, veto or let it become law without her signature.
Need-based financial aid received funding to help us restore some earlier reductions in this priority area. Funding for faculty recruitment and retention was approved, which will help us retain and grow a tremendous source of expertise on our campus – outstanding faculty, who generate significant economic value for the state. For the first time in several years, university employees will receive a raise of 1.2 percent.
Additionally, funds were restored to management flexibility cuts issued by the 2011 General Assembly. Also included were operating reserves for new buildings and $1 million in operating funds for the Hunt Library on Centennial Campus. For additional details about the budget, I encourage you to take a look at the side-by-side budget comparison.
We are grateful that our legislators have worked together making difficult decisions with scarce resources to help us continue to provide quality public higher education in North Carolina. I am extremely proud that throughout any challenge, we at NC State have worked efficiently to continue to be one of North Carolina’s greatest assets. We remain committed to do our part to drive the economic vitality of this state and to educate North Carolina’s future leaders.
NC State University