Published Friday Apr 20, 2018
The Tennessee legislature has passed Gov. Bill Haslam’s 2018-2019 budget, which has more than $13 million in additional funding for the university, bringing the total state appropriation to more than $51 million. The additional funding includes $3 million in recurring funds for Tech’s College of Engineering.
“Our engineering program and our university are crown jewels both in Tennessee and nationally,” said Rep. Ryan Williams. “After extensive conversations with the Governor and his team, I am pleased that he has chosen to support Tennessee Tech and the College of Engineering. I know this important funding will lead to future growth and also allow the College of Engineering to continue to serve as a global leader in innovation on the cutting edge of technology.”
Along with the engineering funds, additional monies for the upcoming fiscal year (which starts July 1) include:
- $1.3 million in outcome-based funding under the Complete College Act’s funding formula
- $750,000 to recognize Tech’s Carnegie classification as a doctoral institution
- $500,000 for Tech’s Cybersecurity Education, Research and Outreach Center (second year of a four-year funding)
- $1.3 million in funds for a salary pool increase (Tech is expected to fund the remainder of the mandated 2.5 percent salary pool increase, $934,854)
- $6.3 million for facilities maintenance
Tennessee Tech President Phil Oldham said this funding is recognition of how Tech is part of the state’s economic development.
“We know how important talent is as an economic driver, and Tennessee Tech has been critical in the creation of approximately 3,000 jobs in the Upper Cumberland in the past couple of years,” Oldham said. “We need to graduate more individuals ready to take on the roles related to engineering and technology careers. We appreciate the support Ryan Williams, Sen. Paul Bailey and Governor Haslam have shown to both Tech as a whole, and to our College of Engineering.”