Governor Bill Lee’s proposed budget for the 2019-2020 fiscal year includes nearly $60 million in funding for Tennessee Tech University.
The school released a statement indicating that the amount is approximately 10 percent higher than their current funding and 25 percent higher than the year before.
TTU reports if the Governor’s budget is approved by state lawmakers, the University would receive an additional $16 million in funding per Lee’s recommendation.
President Phil Oldham notes in the release that, although the budget proposal remains preliminary, the motion shows confidence by the Governor in Tennessee Tech.
“The General Assembly will have much to say about the budget,” Oldham said. “But with the support we have in the legislature, most notably Representative Ryan Williams and Senator Paul Bailey, I feel this is a great start to the legislative budgeting process. Their confidence in Tech is vital to our continued work.”
Lee’s budget proposal also includes nearly $11 million in capital appropriation for TTU, as well as an additional $900,000 recognizing the school’s recent Carnegie classification change.