Regents approve two percent budget cuts

ATLANTA - The Board of Regents has approved a plan to cut two percent from the budgets of the state&#39;s 35 colleges and universities. <br> <br> The regents approved the plan Wednesday, along with a fiscal year 2004 budget request for $1.6 billion, down from this year&#39;s original $1.7 billion budget. <br> <br> The cutbacks are the latest in a series of budget reductions and set-asides that began in November for state agencies. The regents were told to hold money in reserve in case the economy improves and state revenues increase. <br> <br> The Board of Regents has reassured officials that the budgetary cuts and holdbacks aren&#39;t supposed to affect instruction. <br> <br> William Bowes, vice chancellor for fiscal affairs at the Board of Regents, said that it&#39;s likely school presidents trying to save money will not fill positions after employees retire, will delay equipment purchases, and will not renew periodical subscriptions or buy library books.

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