COOKEVILLE – Gov. Bill Lee’s proposed 2020-2021 budget includes more than $64 million for Tennessee Tech’s annual appropriation, along with more than $48 million in capital appropriations.
The university’s new engineering building, which was the Tennessee Higher Education Committee’s top capital project recommendation this year, received its full state funding of $43.5 million.
“Gov. Lee’s proposed budget is another good year of increased state support for what we are doing here at Tech and for the outcomes we produce for the state,” said Tennessee Tech President Phil Oldham. “I want to thank all of Tech’s faculty and staff for their hard work in achieving these outcomes.”
The budget proposal also includes funds recognizing Tech’s strong outcomes under the funding formula, its cybersecurity efforts and a 2.5% salary pool.
The proposed 2020-2021 state appropriation is a 6.6% increase over 2019-2020, and is more than 18% higher than Tech’s 2018-2019 appropriation, which is the highest change among public universities in Tennessee.
The additional recurring state appropriation proposed includes:
$1.88 million in outcome-based funding under the Complete College Act’s funding formula
$1.35 million for a 2.5% salary pool
The state appropriation also includes $500,000 for Tech’s Cybersecurity Education, Research and Outreach Center. This is the final year of a $2 million state funding match of a National Science Foundation grant.
The state’s capital appropriation includes more than $48 million for Tech, which includes:
$43.5 million for the new engineering building
$5.1 million for repair, maintain and update campus facilities
The governor’s budget proposal as not yet been approved by the Tennessee General Assembly.
“We want to thank the state for their continued support of what we are doing at Tech to serve all of Tennessee,” Oldham said.