UT Foundation making budget cuts

KNOXVILLE, Tenn. (AP/WVLT) -- The University of Tennessee Foundation is making cuts in the face of a $2.2 million shortfall expected in the upcoming budget cycle.

The foundation is considering a delay in the hiring of a new president, the elimination of positions that aren't currently filled and reassigning some positions.

Lisa Taylor, chief financial officer, told board members during a meeting on Tuesday that the agency is also making $1.1 million in hard cuts.

UT President Joe DiPietro recommended waiting until 2015 to initiate a search for a new president, but UT trustee and foundation board member Charles Warton raised concerns about such a long delay.

No final decision was announced on the matter.

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