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FSU Board approves historic $2.2 Billion budget

(WCTV)
Updated: Jun. 17, 2021 at 12:53 PM EDT
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TALLAHASSEE, Fla. (WCTV) - The Florida State University Board of Trustees on Thursday approved a spending plan for the new fiscal year.

The 2021-2022 operating budget totals $2.172 billion. That’s up $317 million over last year, largely due to federal stimulus funds allocated to lessen the economic impact of COVID-19 and state funding for significant capital projects. It is the first time in the university’s history the budget will exceed $2 billion

“This budget will allow Florida State University to return to pre-pandemic campus operations in August and continue our upward climb as one of the best public universities in the nation by investing in our students,” said FSU President John Thrasher in a press release from the university.

Federal stimulus funds will provide an additional $49.4 million in student financial aid, as well as $60 million to the university to compensate for costs associated with the pandemic, such as COVID-19 testing, vaccination efforts and remote learning, and for lost revenue in housing, athletics and other areas.

Construction spending of $287.2 million includes $23 million for the new Interdisciplinary Research Commercialization Building, which will break ground later this summer, as well as funding for ongoing projects such as the Oglesby Student Union expansion.

The university’s operating budget injects an estimated $14 billion into the local and state economy, according to the FSU Center for Economic Forecasting and Analysis.

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