Lincoln University's 2015-2016 Appropriations Released
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Posted By: How May I Help You NC on March 28, 2016 Lincoln University and the other Pennsylvania state-related universities will finally receive their 2015-2016 budget allocations after Gov. Tom Wolf announced yesterday he would end the stalemate and allow the legislation to become law without his signature. As part of the budget deal, Lincoln receives $14.084 million of the overall $600 million in support for the state-related institutions and other services, which include University of Pittsburgh, Penn State University and Temple University. “We are very grateful for Gov. Wolf who weighed the best interests of Lincoln and our state-related partners in his difficult decision to not veto the legislation,” said Interim President Dr. Richard Green. “While we had already tightened spending, the university would have had some very tough decisions to make had he not.” Over the past several months, Lincoln has faced an institutional and financial crisis due to the budget impasse since the state allocation represents about 25 percent of the university’s operating budget. In November, Moody’s lowered the university’s bond rating from A3 to Baa3 because of a lack of liquidity and citing the budget impasse as the major factor. The University was also forced to institute a hiring freeze and cut spending. On Monday, April 4, students, alumni, faculty, staff and administrators will visit the state capitol for our annual Lincoln Day in Harrisburg to both thank lawmakers for the current appropriations and lobby for an increase in its future allocation for the 2017 fiscal year. Source: http://www.lincoln.edu/ If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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How May I Help You NC
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