News
System Must Tighten Belt To Deal With N.C. Budget
By Jennifer Samuels & Karey Wutkowski | May 1UNC-Chapel Hill officials say they will try to avert a budget crisis by contacting legislators and making visits to Raleigh this summer to fight to preserve facilities-and-administrative funds. Due to the state's projected budget shortfall of more than $1 billion for the 2002-03 fiscal year, members of the N.C. General Assembly also have discussed the possibility of retaining F&A funds from UNC-system schools. Often known as overhead receipts, F&A funds are recovered from the federal government to cover the University's incidental costs associated with funded research.
