University Park, Pa. -- Penn State's 2004-2005 appropriation was passed by the state Legislature over the holiday weekend, resulting in a 3 percent increase in state funding for the next fiscal year.
The bill, HB 2529, passed the Senate by a 50-0 vote and the House of Representatives by a 198-2 margin and was signed into law early Sunday morning by Gov. Edward G. Rendell, who originally had proposed a 2.25 percent increase for Penn State. This provides the University with an increase of $9.335 million over last year's funding level for a total appropriation of $317.179 million, and marks the end of a three-year period during which the University received four significant cuts in state support.
Penn State President Graham B. Spanier said he is pleased to receive additional funds beyond the governor's recommendation, which will be used to offset projected tuition increases. The University's Board of Trustees will set Penn State's 2004-05 operating budget and tuition rate schedules when they meet this Friday (July 9).
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For a recent history of Penn State's appropriations, visit http://live.psu.edu/still_life/2004_07_06_budget/index.html
For more details on Penn State's budget, visit http://www.budget.psu.edu/