Plan drafted to manage potential budget fallout from COVID-19

Provost Patrick Phillips and Chief Financial Officer Jamie Moffitt today shared a draft plan for facing the extraordinary budget uncertainty due to the COVID-19 pandemic.

The memo, available on the Office of the Provost website, outlines a contingency plan for progressive pay reductions in anticipation of possible reductions in the university’s two biggest sources of revenue, state appropriations and tuition.

University leaders are talking to employee groups about the plan, which is likely to change in the coming months. The goal would be to apply it, if necessary, across all employee groups, with the exception of undergraduate and graduate student employees and those supported on grant funds, as federal regulations allow.

Phillips and Moffitt emphasized that it is a contingency plan that would only be triggered by a budget challenge that occurs before the end of fiscal year 2022. The details of the draft plan are available online.