ATLANTA – The University System of Georgia Board of Regents approved a $2.57 billion fiscal 2023 budget request Tuesday.
Although Gov. Brian Kemp has asked state agencies not to ask for more money next year, the system’s budget represents a $108.1 million increase over the current $2.46 billion spending plan.
The additional spending covers items that were exempted from the governor’s order, Tracey Cook, the system’s executive vice chancellor for strategy & fiscal affairs, told the regents Tuesday.
Those items include $99.4 million to account for growth in student enrollment, nearly $9 million for changes in employee and retiree health insurance plans and $460,569 for a slight increase in square footage at the system’s colleges and universities.
The regents also approved a capital budget request of $278.8 million. The biggest chunk of those funds – $108 million – would go toward four major building projects: $37.1 million for the first phase of modernization at the University of Georgia’s Science Hill, $30.6 million for the third phase of the expansion of Tech Square on the Georgia Tech campus, $28.8 million for the Gateway Building at Georgia Gwinnett College and $11.5 million for an academic building at the University of North Georgia’s Cumming campus.
The capital budget request also includes $70 million for major repair and rehabilitation projects and $44.1 million for smaller building projects at 11 campuses.
The operating and budget requests will be reviewed by the Governor’s Office of Planning and Budget. Kemp will present his spending recommendations to the General Assembly in January.