UT Foundation Making Budget Cuts

UT Foundation Making Budget Cuts

CREATED Jun 5, 2014

KNOXVILLE, Tenn. (AP) - The University of Tennessee Foundation is making cuts in the face of a $2.2 million shortfall expected in the upcoming budget cycle.

The Knoxville News Sentinel reported the foundation is considering a delay in the hiring of a new president, the elimination of positions that aren't currently filled and reassigning some positions.

Lisa Taylor, chief financial officer, told board members during a meeting on Tuesday that the agency is also making $1.1 million in hard cuts.

UT President Joe DiPietro recommended waiting until 2015 to initiate a search for a new president, but UT trustee and foundation board member Charles Warton raised concerns about such a long delay.

No final decision was announced on the matter.

(Copyright 2014 by The Associated Press. All Rights Reserved.)