The University of Toledo Board of Trustees will consider the president’s recommended 2013 budget at its meeting Monday, June 18.
The $797.6 million budget, which is being approached as a year for strategic investment, was reviewed by the Finance Committee June 4 and recommended to the full board. Areas of investment include graduate student stipends, a new pharmacy program, and additional space and equipment for research areas.
The budget reflects a $7.6 million reduction in state share of instruction dollars, but a $15 million investment in state capital dollars that will be used to fund routine maintenance. Because of strategic position control, the University was able to reduce salary expenditures without widespread layoffs.
The budget recommends an in-state undergraduate tuition increase of 3.5 percent, but includes no increase in general fees. Thus, the total increase students will experience in tuition and fees is 3.03 percent, which is less than the 3.5 percent cap directed by the state. There were no changes in residence halls fees, and the budget includes new meal plan options for students.
For UT Medical Center, the proposed budget includes projected revenue increases from wound care, endoscopy, primary care physicians and the new Cancer Center.
The combined $797.6 million budget consists of a $529.7 million budget for academic operations and $267.9 million for the clinical enterprise.
UT President Lloyd Jacobs stressed the balanced budget was a highly participatory process over many months of conversations and budget hearings, and thanked all the representatives from Faculty Senate and Student Government, deans and senior administrators for their input.