WRIC Richmond News and Weather - Colleges Face Upcoming Budget Reductions
Member Center:
RICHMOND, Va. (AP) - State funding for Virginia's higher-education system is continuing to shrink, and colleges and universities say they'll have to continue raising tuition and consider more cutbacks to help close the gap, especially after federal stimulus money disappears.
The budget approved last week by the General Assembly included across-the-board reductions of $243.5 million in the 2011-12 fiscal years, along with $40.5 million worth of cuts and cost savings. But given the tough economic climate, it spared colleges of other drastic cuts that the schools feared.
About $198 million in federal stimulus funds are available for schools during the 2011 fiscal year. But in fiscal 2012, it will be gone, meaning the state's four-year colleges will see state support drop by 15 percent, and the community-college system will see a 13 percent reduction.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
