Arkansas Tech University administrators have determined a course of action to offset an announced cut in state funding for the 2009-10 fiscal year.
Arkansas Tech reduced its 2009-10 budget by $805,592 on Friday morning as part of an across the board budget cut for all agencies operated by the State of Arkansas.
Dr. Robert C. Brown, Tech president and professor of economics, noted that Arkansas is in much better position than many of its neighboring states.
“We are grateful for the revenue stabilization act that we have in Arkansas,” said Brown. “It puts our state in a better financial position during difficult times.
“We have been through this process before at Arkansas Tech,” continued Brown. “This is the second cut during the current fiscal year. We were able to absorb the first cut with contingency funds along with a very stringent review of all expenditures. In applying this second cut, we were ever mindful of our mission to help students and we worked to ensure that there will be no reduction in the quality of our academic services.”
Dr. Brown expressed gratitude for the continuing cooperation of the faculty and staff at Tech.
“Our people understand the situation, and they have already responded well to the first budget cut,” said Brown. “We are confident that, although this is not pleasant, our people will again do all that is necessary to make this work, just as they have in the past.”
Russellville Campus reductions include:
Salaries and Benefits: $212,951
Russellville Total: $749,155
Ozark Campus reductions include:
Salaries and Benefits: $23,000
Ozark Total: $56,437
Total Reductions: $805,592
“We will come through this time of financial discomfort and emerge stronger on the other side,” said Brown. “Regardless of the economic times that we live in, Arkansas Tech will continue to live within its means and provide the people of our state with the best value for their educational dollar.”