The legislature was out this week due to dangerous travel conditions, but on Monday, the members will return for a busy week of budget presentations and committee hearings. President Randy Boyd will deliver UT’s budget presentation in House Finance, Ways, and Means Committee on Monday at 9:30 AM central time. The governor’s proposed budget includes several UT projects, and President Boyd will use the opportunity to discuss how these critical investments will support UT’s mission and be transformational for countless generations. Advocates can watch the hearing here.
The governor’s proposed budget includes a critical operating increase for the UT Health Science Center and funding to further develop the Oak Ridge Institute. It also provides a strong investment in capital maintenance, with $59.9M for every UT campus and additional funding to support a nursing building at UT Knoxville and the Nash building modernization at UT Health Science Center.
The budget proposal also includes funding for Martin Methodist College’s acquisition to become a UT campus. President Boyd will highlight how the new campus would improve the region’s college-going rate and foster economic development. We encourage advocates to learn more about this important priority and express their support to members of the General Assembly here.
Finally, the state recently released revenues for the month of January. January revenues totaled $1.67 billion, which is $380.1 million more than budgeted and 7.66 percent greater than revenues received in January 2020. Tennessee Department of Finance and Administration Commissioner Butch Eley contributed the strong growth to the December 2020 Christmas shopping season, with consumers also spending on items such as building materials, auto sales, and groceries.