The BOG requested the funds Friday to continue normal university operations, to increase faculty salaries and to expand and improve facilities.
The request has to be approved by the N.C. General Assembly and Gov. Mike Easley.
But legislators said the request is unlikely to be met in full because of the state's budget crisis.
It will be difficult to accommodate all areas of necessary funding because of the state's precarious budget situation, said Sen. Walter Dalton, D-Rutherford, co-chairman of the Higher Education Appropriations Subcommittee.
"It will most definitely be hard to provide all the requested funding because last year we preserved educational priorities through one-time initiatives," he said. "This leaves a huge hole in the budget for this year."
Sen. Charles Carter, D-Buncombe and co-chairman of the Senate Education Committee, also said he does not expect the BOG request to be funded fully. "It's going to be a tough budget year coming up, so I imagine we'll fund less than was requested," he said.
But Carter emphasized that schools' suffering will be reduced by allowing administrators to select which areas to cut within their budgets.
"The General Assembly does define certain appropriations, but universities have a great deal of flexibility with funding," he said.
It is difficult to speculate on how much of the requested budget will be approved because not all the legislative races have been determined, said Rep. Margaret Jeffus, D-Guilford, vice chairwoman of the House Education Committee.