A five percent budget cut at all Texas A&M system universities and agencies due to the pandemic is going to continue another two years.
That was part of the report at the quarterly board of regents meeting from the system’s chief financial officer, Billy Hamilton.
Since the start of the pandemic, the net monetary loss at the flagship campus is $31 million dollars. $29 million in lost revenue and $23 million in additional expenses were offset some by A&M receiving $19 million in federal relief.
System wide, the pandemic has resulted in an overall loss of almost $151 million dollars between lost revenue and increased expenses. After receiving $86 million in federal relief money, the system’s net loss is more than $64 million.
Click below for comments from Billy Hamilton during the August 20, 2020 Texas A&M system board of regents meeting.
Hamilton’s report preceded the regents unanimous vote adopting fiscal year 2021 operating budgets for the system’s universities and agencies.