Regents OK $1.6 billion operating budget

The Board of Regents approved a $1.6 billion University operating budget May 13 for the 2000-01 school year.
The newly approved budget is a $66.4 million increase over last year and will be funded by allocations from the 1999 state Legislature, a 5.5 percent tuition increase and administrative cutbacks.
“It’s a sort of common-sense budget that balances our needs and our revenues,” University President Mark Yudof told regents. “It doesn’t achieve all that we wanted, certainly, in terms of faculty-staff salaries. It doesn’t achieve all that we wanted in terms of additional faculty positions and staff … but it does move us generally in the right direction.”
An issue that has been discussed at length during recent regents meetings, faculty and staff salaries will get a 3 percent boost from the 2000-01 budget. Faculty and staff members received 2 percent from the University last year.
The budget also includes funding for academic initiatives, technology enhancements and facilities.
Liz Bogut covers administration and welcomes comments at [email protected]