By: Lanetra Bennett
May 5, 2014
Tallahassee, FL - The FAMU Board of Trustees Budget and Finance Committee held a workshop Monday to discuss the university's budget and budgeting processes.
Administrators say the budget is balanced. They says FAMU's overall operating budget is $171.5 million. They say the university received an additional $35 million from the legislature, plus $1 million to help with online degrees, and $10 million to complete phase two of the Pharmacy building.
Tola Thompson, the FAMU Director of Governmental Relations, says, "The college now currently does about $25 million in federally sponsored research. With additional research space in pharmacy phase two, they will be able to draw down additional federal research dollars which we think will have a huge impact on this community."
The athletics department says it will have a balanced budget this year. Administrators say they're working on a plan to eliminate the department's $1.2 million deficit.