In an email distributed to university faculty and staff, President Charles Steger confronted the looming issue of budgetary woes and revealed several strategies to cope with the cuts.
Steger said he had asked deans, vice presidents, and other “senior resource managers” to prepare multi-stage plans for the reductions. The first stage will be to offer the so-called Alternative Severance Option and other layoff options for faculty and staff.
“I make you aware at this time of this planning because I am sure that campus cross-talk is churning,” Steger noted in the email.
The use of ASO, Steger said, would be limited but would offer severence benefits or enhanced retirement options in early Nov. to eligible employees with the goal of eliminating several employees’ salaries from the budget. Use of ASOs will be at the discretion of the senior resource managers.
By the 2010-2011 fiscal year, Tech will have experienced $68 million in reductions in state funding over three fiscal years.
This year’s budget appropriations were offset by Governor Kaine’s decision in early Sept. to accelerate the use of $30 million in stimulus monies. However, the cost of lessening the cuts’ immediate impact on Tech is to increase the gap in the near future. Pk