Board: Higher Education Budget in Limbo
NASHVILLE, Tenn. (AP) — Members of the Tennessee Board of Regents said Friday that they don't know how much money Tennessee's universities and community colleges are going to receive in the budget because of a shortfall in the state's tax collections.
The TBR oversees six state universities, 13 community colleges and 27 colleges of applied technology. Officials said at a board meeting Friday that the best case for the schools would be to get the almost $6.6 million Gov. Bill Haslam allocated to them in his budget.
Senate Speaker Ron Ramsey told reporters Thursday that planned pay raises for employees and investment in higher education might have to be cut due to a $260 million shortfall of projected revenue.
Traditionally public colleges and universities raise tuition when they get less money in the budget.