Due to a projected revenue shortfall of $486.8 million, Gov. Tom Corbett announced in a press release Tuesday that Temple—along with the other three state-related universities—will face a five percent funding cut for the 2011-2012 fiscal year.
The $25.7 million reduction in state funding comes after a year in which the four state-related universities saw their state appropriation cut by 19 percent.
The cuts are part of a plan to reduce spending across the board in order to make up for the revenue shortfall. In addition to the state-related universities, Corbett ordered state agencies to curb spending by three percent and in some cases as much as ten percent.
For more on this, pick up The Temple News when it returns to newsstands on Jan. 17.