University of Minnesota Board of Regents to consider President Kaler's proposed FY13 budget Friday
What: University of Minnesota Board of Regents meeting
When: Thursday, May 10 and Friday, May 11
Where: 600 McNamara Alumni Center, 200 Oak St. S.E., Minneapolis
MINNEAPOLIS / ST. PAUL (05/08/2012) —The University of Minnesota Board of Regents will review and take public comment on University President Eric Kaler’s FY13 operating budget at 12:30 p.m. Friday, May 11.
President Kaler will present his budget recommendations, which take steps toward achieving the goals he outlined in his State of the University speech March 1 – to keep the U affordable for students; invest in the U’s excellent faculty, research infrastructure, technology, student aid and scholarships; and use state resources responsibly and hold down costs.
Highlights of the proposed FY13 budget include:
- Holding tuition increases to 3.5 percent for Minnesota undergraduates, which is the lowest tuition increase this century. Tuition has ranged from a low of 4.5 percent to a high of 16 percent. (A full chart highlighting this is available at the end of the release.)
- Keeping the University of Minnesota accessible to qualified students, regardless of income. The modest tuition increase will be offset by an additional $2.3 million in need-based aid, made available by cost savings from a restructuring of the U's Promise Scholarship program. President Kaler is proposing a 14 percent increase in the Promise Scholarship, which is awarded to students with low family incomes. He is also proposing an additional $2.8 million in new money for merit-based aid to attract the top students from Minnesota and the region.
- Investing in the U’s faculty and staff to continue to foster excellence in education and research. This includes $34 million in new academic program investments and a 2.5 percent compensation pool increase for faculty and staff, following three years of furloughs, wage freezes and increased health care costs.
- Investments in operational excellence, holding down operations and support costs and redirecting existing funds to ensure the highest use of state resources. New investment in operations and support costs is being held to about one-half of 1 percent of the annual spending base, while redirected resources and prudent budget management provided about 58 percent of the total budget needs.
The proposed budget positions the U of M to move forward by attracting and retaining top faculty and students; and by cultivating their continued success by investing in innovation, research and educational excellence. It allows for essential growth while recognizing that state budget resources continue to be strained.
The Board of Regents will review the proposal and public comments and will act on the proposal at its June 8 meeting.
The Board of Regents is also scheduled to review and act on two letters of intent between the university, University of Minnesota Physicians and Fairview Health Services. This includes the proposed construction of a new Ambulatory Care Center, which would replace the Phillips-Wangensteen Building and provide much needed expansion for a variety of clinics. The project and the organizations’ enhanced collaborative relationship will improve patient care, ensure excellence in medical education and support the university’s research mission.
Other Board of Regents agenda items include:
- Oath of Office for the Board of Regents’ newest member, Tom Devine, a 1979 graduate of the U. Minnesota Court of Appeals Chief Judge Matthew Johnson will deliver the oath of office at 8 a.m. Thursday in the Boardroom.
- Review of/potential action on schematic plans for Siebert Field ballpark replacement on the Twin Cities campus and the lab/classroom facility at the Itasca Biological Station (pending state bonding approval).
- Review of the 2013 Annual Capital Improvement Budget, which would authorize projects totaling $513.7 million to begin design or construction during the next fiscal year – about 67 percent of which would be paid for by the U and 33 percent of which would require state supported capital investments.
- Act on the appointment of Norwood Teague as the university’s new director of athletics.
- Recognize the service of outgoing student representatives to the Board of Regents.
- Recognize faculty, staff and students who have excelled this academic year, including national scholarship winners and the national champion Women’s Hockey team.
Board of Regents committee meetings will begin at 8 a.m. Thursday. The full Board of Regents meeting will begin at 9 a.m. Friday. More information on the Board of Regents meeting, including the time and locations for committee meetings and a full agenda, can be found at www.umn.edu/regents.
Tuition increases at the University of Minnesota this century (undergraduate)
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