Full UVM budget on hold amid pandemic
A full budget to keep the University of Vermont running for the 2021 fiscal year is on hold amid the coronavirus pandemic.
Instead, the UVM Board of Trustees approved a three-month budget continuation past the June 30, 2020, conclusion of the current fiscal year.
In September, the administration will present a budget for the remaining nine months of the 2021 fiscal year, when anticipated income and expenses for the next fiscal year become more clear.
"UVM, like universities everywhere, is facing many unknowns as a result of the COVID-19 crisis," UVM president Suresh Garimella said in a statement. "Before we present a budget for the next fiscal year, it's important we get past some of the current uncertainty. I appreciate the Board's leadership in helping to position UVM for success beyond this crisis."
The chair of the board, Ron Lumbra, said Garimella donated his salary from April to a special school fund to handle the crisis.
"This is a difficult time for our university, our state, our nation, and the world. I speak for our entire Board when I share how deeply proud I am of UVM's response to this crisis. Our faculty, our staff, our alumni, and our students—everyone has risen to the occasion, with the unique combination of tenacity, resilience and community that makes UVM special," said Lumbra.
Budget recommendations for the entire 2021 fiscal year are scheduled to be presented to the board by September 15, 2020.