Governor Announces Budget Freeze
January 6, 2012 Categories: President's Messages
Dear Colleagues,
I wanted to share the following information which has just come to our attention. Governor Corbett has called for a budget freeze in reaction to lower than anticipated revenues for the current year. PASSHE has been requested to freeze five percent or $20.6 million of the $412.7 million in state funding which the System received this year.
In the Governor’s press release issued yesterday the Governor said, “We did not make the decision to freeze these funds lightly. If the revenue picture improves in the months ahead and we determine these funds no longer need to remain frozen, we may be able to free up some or perhaps even all of the funds we are now placing into budgetary reserve.”
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