We are very disappointed that the legislature was unable, at this time, to reach an agreement on a solution to the state’s budgetary problems. However, we believe the discussion surrounding tax reform has led to a greater awareness of the critical funding needs of higher education and its importance to the economic future of this state. In most cases, even those opposed to tax reform recognized the impact that a decade of underfunding is continuing to have on the University of Tennessee. We are confident that legislators will continue to pursue a solution that will be in the best interests of the University and the citizens of our state.