<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=us-ascii">
<meta name="Generator" content="Microsoft Word 14 (filtered medium)">
<!--[if !mso]><style>v\:* {behavior:url(#default#VML);}
o\:* {behavior:url(#default#VML);}
w\:* {behavior:url(#default#VML);}
.shape {behavior:url(#default#VML);}
</style><![endif]--><style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman","serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
p.MsoAcetate, li.MsoAcetate, div.MsoAcetate
{mso-style-priority:99;
mso-style-link:"Balloon Text Char";
margin:0in;
margin-bottom:.0001pt;
font-size:8.0pt;
font-family:"Tahoma","sans-serif";}
span.BalloonTextChar
{mso-style-name:"Balloon Text Char";
mso-style-priority:99;
mso-style-link:"Balloon Text";
font-family:"Tahoma","sans-serif";}
span.EmailStyle19
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:windowtext;}
span.EmailStyle20
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:#1F497D;}
span.EmailStyle21
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="blue" vlink="purple">
<div class="WordSection1">
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> Paliotta, Amanda
<br>
<b>Sent:</b> Thursday, March 03, 2016 1:30 PM<br>
<b>To:</b> Mauck, Sheri<br>
<b>Subject:</b> FW: Revenue Failure Update<br>
<b>Importance:</b> High<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Please forward to Business Officers.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> Johnson, Dr. Glen
<br>
<b>Sent:</b> Thursday, March 03, 2016 12:50 PM<br>
<b>To:</b> Presidents<br>
<b>Subject:</b> Revenue Failure Update<br>
<b>Importance:</b> High<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" align="center" style="text-align:center">OKLAHOMA STATE REGENTS FOR HIGHER EDUCATION<o:p></o:p></p>
<p class="MsoNormal" align="center" style="text-align:center"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<div style="border:solid windowtext 1.5pt;padding:1.0pt 1.0pt 1.0pt 1.0pt">
<p class="MsoNormal" align="center" style="margin-right:355.5pt;text-align:center;background:#CCCCCC">
<b><span style="font-size:36.0pt;letter-spacing:-3.0pt">Memo</span></b><o:p></o:p></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="line-height:150%"><b>To: <a name="to1">
</a>Presidents<o:p></o:p></b></p>
<p class="MsoNormal" style="line-height:150%"><b>Cc: State Regents<o:p></o:p></b></p>
<p class="MsoNormal" style="line-height:150%"><b>From: </b> <a name="from">
</a>Chancellor Glen D. Johnson<o:p></o:p></p>
<p class="MsoNormal" style="line-height:150%"><b>Date: </b> <a name="datea">
</a>Thursday, March 03, 2016<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.5in;text-indent:-.5in;line-height:150%">
<b>Subject:</b> <a name="re"></a>Revenue Failure Update<o:p></o:p></p>
<div style="border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.0pt 0in">
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><a name="body"></a>In an effort to keep you updated regarding the FY16 revenue failure, we have just received a memo this morning from Secretary of Finance, Administration and Information Technology Preston Doerflinger indicating that beginning
with March 2016 allocations, FY16 General Revenue allocations to agencies must be further reduced by
<b>four percent</b>. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">This four percent reduction is made in addition to the three percent General Revenue allocation reductions that began in January 2016, resulting in a total General Revenue allocation reduction of seven percent for FY16. It is also in addition
to the $26 million reduction due to declines in oil gross production revenue announced on February 12, 2016, bringing the total appropriation reduction for FY16 to 8.6 percent.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The additional four percent reduction equates to a $32.1 million reduction to our state system of higher education. We will be sending you the amount your individual institution will be impacted as soon as it has been finalized. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="text-autospace:none">Once you receive notification of your reduced allotment, please submit a budget revision incorporating the reduced allotments of state appropriations to Vice Chancellor Amanda Paliotta (<a href="mailto:apaliotta@osrhe.edu">apaliotta@osrhe.edu</a>)
and enter the reduction on the Office of Management and<span style="color:#1F497D">
</span>Enterprise Services Hyperion Budgeting System by the close of business on Friday, March 11, 2016, as requested by Secretary Doerflinger. The State Regents will be asked to ratify the reduced allotments at their meeting on Thursday, April 21, 2016.<o:p></o:p></p>
<p class="MsoNormal" style="text-autospace:none"><o:p> </o:p></p>
<p class="MsoNormal">Thank you.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Glen<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="color:black">Glen D. Johnson</span></b><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black">Chancellor<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black">Oklahoma State Regents for Higher Education<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black">655 Research Parkway, Suite 200<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black">Oklahoma City, Oklahoma 73104<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black">405.225.9122 <o:p></o:p></span></p>
<p class="MsoNormal"><a href="mailto:gjohnson@osrhe.edu">gjohnson@osrhe.edu</a><span style="color:black">
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black"><img border="0" width="130" height="66" id="_x0000_i1025" src="cid:image001.jpg@01D1754B.1FDBA3A0"></span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif"">
</span><img border="0" width="107" height="58" id="_x0000_i1026" src="cid:image002.png@01D1754B.1FDBA3A0"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
</body>
</html>