As the new fiscal year went into effect in July, so did the repercussions of financial woes that have plagued Guilford since the North Carolina General Assembly cut its financial aid program for colleges and universities across the state. The economic downfall contributed to the shortfall of $2.45 million in financial aid money, which the college is spreading over two years. During an Aug. 14 presentation to faculty and staff, Vice President for Finance Greg Bursavich announced that $1.6 million in budget reductions are being made this year.
http://www.guilfordian.com/news/2012/08/31/college-deals-with-external-factors-causing-reduced-budget/
