Budget Update from President Linwood Rose

From: Public Affairs

February 11, 2008

You may be aware from recent media reports that Governor Kaine has announced expenditure freezes in a number of categories to address the worsening revenue shortfall.

Governor Kaine's announcement does not affect higher education at this time, and the university is not currently imposing any additional budget controls.

It is anticipated that the Governor and the General Assembly will share the latest revenue forecasts later this week. This information will provide guidance to the university regarding the need for further belt tightening. As has been the case in previous economic downturns, whatever budget related strategies that are employed by James Madison University will protect instructional and other core services to our students.

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