UT Foundation facing $2.2 million budget shortfall, proposes cuts, delay in hiring president - The Knoxville News Sentinel

Staring down a $2.2 million shortfall in the upcoming budget cycle, the University of Tennessee Foundation has proposed putting off hiring a new president, eliminating vacant positions and attempting to reassign three positions elsewhere in the university system. The foundation is making $1.1 million in hard budget cuts and has also accepted $500,000 from the university system to help with the transition, said Lisa Taylor, chief financial officer, during the foundation’s board meeting Tuesday at the downtown Holiday Inn. The cuts include reducing some functions — like communications — that the foundation was handling on behalf of the campuses. http://www.timesfreepress.com/news/2014/jun/03/ut-foundation-facing-22-million-budget-shortfall-p/