The 2012-13 budget for Penn College, a wholly owned subsidiary of Penn State based in Williamsport, will see a decrease of $2.9 million as a result of expense reductions and lower than expected research expenditures. This will bring its total budget to $138 million. The Commonwealth’s appropriation to Penn College remains at the 2011-12 level of $13.6 million. The overall appropriation is equal to 1995 levels, when the University educated 20,000 fewer students. Erickson said the increase in the number of students being educated, combined with the slow pace of the economic recovery, continues to present challenges. In addition, the University is facing unavoidable increases in major cost-drivers, such as employee health care, retirement contributions and energy.
http://live.psu.edu/story/60360
