May 12, 2000

TRUSTEES APPROVE INTERIM BUDGET
University Park, Pa. – Penn State adopts an interim budget so that it has an approved fiscal operating plan from the end of its fiscal year, July 1, until the next year’s budget is approved by the Board of Trustees. The 2000 — 2001 Penn State Budget will be presented to the Board for approval at its next meeting, July 14, at University Park.

Today, May 12, Gary Schultz, senior vice president for finance and business/treasurer presented the interim maintenance and operating budget, which the Board approved at the level of the 1999 — 2000 total operating budget of $1,582,168,000 for the total University.

The board will take no action on changes in tuition, salaries and wages, employee benefits or other necessary expense increases until after the 2000 — 2001 budget has been approved.

Contact: Christy Rambeau (814) 865-7517 or e-mail at