Page 14 - TSU

Implementation

Table 1: Deficit Elimination

Deficit Reduction Source Specific $$ Earmark details/ Effective Date of Posting Impact on deficit/Sub-total
Amount
$(7,689,141)*
A special allocation was made specifically for the
1. State
$3,000,000 SUNO deficit.
Appropriations $(4,689,141)
Effective: 02/29/2020
SUS receives $1M annually for Cannabis research. A
2. Southern
special allocation made specifically for the SUNO
University System $ 500,000 $(4,189,141)
– Cannabis deficit of $500,000
Effective: 02/29/20
Extension of time with FEMA resulted in allowable
3. FEMA retroactive reimbursements which were used
$1,662,226 $(2,526,915)
Reimbursement specifically for deficit reduction
Effective: February and March 2020
Debt-free student housing yields approximately
$2.5 annually. The FY 2018-19 funds have been
4. Housing Revenue $0 earmarked specifically for the SUNO deficit. $(2,526,915)
Effective: 02/29/20 Note: CY revenue reduce PY
deficit
Administration sought and gained approval from
the SUS Board of Supervisors for use of prior year
5. Institutional Prior-
$1,391,379 funds from various agency funds. These funds were $(1,138,536)
Year Funds
specifically earmarked for the deficit.
Effective: 02/29/29
Plant funds were over-extended due to FEMA costs.
This resulted in a reduction in the facilities
6. Facilities maintenance balance. This balance was earmarked
$1,138,530 $0
Maintenance specifically for the plant fund deficit.
Effective: 02/29/20 Note: CY revenue reduced ½
PY deficit