Federal Grants Cover About $400 Million In Texas A&M System’s Lost Revenue And Increased Costs From The Pandemic

Screen shot from the webstream of the May 20, 2021 Texas A&M system board of regents meeting.
Screen shot from the webstream of the May 20, 2021 Texas A&M system board of regents meeting.

Members of the Texas A&M system board of regents were told the financial impact of the pandemic will be almost $400 million dollars.

The system’s chief financial officer, Billy Hamilton, told the regents three weeks ago that they have received three rounds of federal pandemic grants.

That will offset $200 million in revenue losses and reimburse the system another $200 million in pandemic expenses.

Hamilton says because of the way federal grants were written, the pandemic cost the flagship campus more than $12 million, and the eight system agencies are down a combined $101 million dollars.

Click below for comments from Billy Hamilton during the May 20, 2021 board of regents meeting.

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