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UGA Foundation allocates more than $3.3 million in budget surplus to enhance UGA academics

The University of Georgia Foundation announced that it realized a budget surplus of more than $3.3 million for the just-concluded fiscal year and that those funds are being allocated to support several important academic initiatives. This funding is in addition to more than $40 million in annual support provided by the foundation to the university and $500,000 provided earlier this fiscal year for endowed professorships.

The board voted unanimously to dedicate the surplus funds to meet specific needs identified by President Jere W. Morehead for scholarships and faculty support. In addition, the board designated $1 million to support the proposed acquisition of the Washington facility, which will be home to UGA's Washington Program, which includes the semester program and other academic initiatives in Washington, D.C.