![]() “Inflation is hitting us in all sorts of ways,” he said. Woodson said repair and renovation projects at NC State now routinely come in 15-20% over budget. ![]() Jennifer Haygood, the System’s Chief Financial Officer, noted that the System spends $900 million a year on energy alone – and energy has seen dramatic price spikes of late. Because the state guarantees students fixed tuition for four years, any move to raise tuition would affect university budgets for at least four years. Jim Holmes, Chair of the Board’s Budget and Finance Committee, said such a move could have long-term implications. “We are almost certainly going to have to look at raising tuition going forward, because I don’t see how we’re going to be able to sustain it,” Ramsey said. Campuses are finding it increasingly difficult to operate, he said. Ramsey said he’s worried about the impact on the UNC System’s smaller campuses in particular. ![]() “It’s beginning to impact our ability to meet the needs of the state.” ![]() “We haven’t had a tuition increase for resident students for six years now,” Woodson said. NC State University Chancellor Randy Woodson replied that when all its funds are included, NC State’s buying power is down $50 million. 1 Our universities are, too.Īnd despite a state budget that granted 5% raises over two years to university employees last fall, the board that governs the 17-campus UNC System this week began discussing the need for more raises and operating funds – including increased tuition – for the first time in years.Īs members of the UNC Board of Governors discussed the System’s agenda Wednesday for the approaching 2022 legislative session, Chair Randy Ramsey asked how campuses are dealing with 8% inflation over the past year. CULLOWHEE (April 7, 2022) – We’re all feeling the bite of inflation.
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