Curators modify Lincoln budget
Friday, September 14, 2012
Lincoln University’s curators approved the school’s 2012-13 budget in June — before Gov. Jay Nixon signed the state’s budget bills and withheld more than $131,000 from it.
The curators approved a revised budget plan that takes all that money out of the President’s Office contingency funds, so none of LU’s classes are affected.
“We had made the assumption that we would be flat-funded,” in the state budget, Controller Sandy Koetting reminded the board of the June discussion.
After Nixon announced the withholding, Koetting said, administrators determined the contingency fund was the best place to cut the $131,180.
As a withholding rather than a veto, the governor could restore some, or all, of that money later, if the state’s revenue picture improves during the business year that ends next June 30.