10/3/00

Private Source Offsets UTC's Budget Shortfall

A private source has donated $500,000 to UTC in response to a budget shortfall stemming from a decrease in enrollment and an increase in the cost of health insurance.

UTC Chancellor Bill Stacy shared the good news with the Chattanooga community.

"'The Chattanooga Way' visited our campus again this morning. A private source called to say, 'The morning paper carries a story that must be addressed. Too many great things are underway. Here's $500,000. Don't cut our University's service.' I am so grateful for how well this University is respected-and how generous the support of UTC is in this community.

As a result of this generous gift, no personnel cuts or delays are necessary. The hiring freeze is lifted."

According to Stacy, the growth the UTC campus is experiencing in facilities expansion and construction, the Engineering, Computer Science, and Mathematics building, the new student apartments, and the University Center renovation are on track for completion, and were never affected by the budget shortfall.

Current Releases