WVU officials are bracing for — and still hopeful to avert — a proposed 7 percent budget cut from Gov. Earl Ray Tomblin.
Narvel Weese, the vice president for administration and finance at WVU, spoke to the WVU Board of Governors Friday about the possible budget cuts and the school’s overall financial standing. Weese said he and other officials are evaluating how the $13.3 million cut in state expenditures will affect the university.
“We’re very concerned about the impending budget reduction,” Weese said. “We recognize that a budget cut at this level will impact the university’s ability to deliver a quality product to our students, as well as the people of West Virginia.”
Tomblin previously announced his budget will include cuts to all organizations receiving state money.
Weese said the university has been financially strong, as investments have performed well and low interest rates have allowed WVU to refinance and free up money for improvements and operations.
WVU is still hopeful to avoid the full brunt of the budget cuts.
“The University is actively seeking ways to navigate through these problems and continues to engage legislative leaders and state officials in meaningful dialogue to mitigate the financial budget loss and to explore ways the state might help the University operate more flexibly and efficiently in these challenging financial times,” Weese said.
Last year, WVU’s BOG approved a $917 million budget for fiscal year 2013. It included about $10 million for faculty and staff salary increases.