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April 1, 2002
UMBC Budget Update
The Legislature is in the midst of difficult budget deliberations which seem to be leading to only a minimal increase in State general funds for higher education, says Mark Behm, UMBC vice president for administration and finance. While the Governor has proposed modest merit and COLA (cost of living) increases, there is no assurance that these will be included in the budget the Legislature approves, he says.
"UMBC's capital budget request to equip the Information Technology/Engineering (ITE) Building is faring well," he notes. "But funding for the Public Policy Building construction appears tenuous at this time."
The State's general fund support is just one component of UMBC's budget. The Governor also included a tuition increase of 5.5%, which, along with growing enrollment, will provide new operating funds. In addition, research grants and contracts, as well as income from endowments, continue to grow.
Behm adds, "UMBC's budget has grown faster than that of any USM school-except for the University College-over the past three years. It's frustrating for all of us not to know the outcome of this process, but we will keep the campus informed as soon as more information becomes available."
Insights will continue to update this story as it develops.
Posted by dwinds1 at April 1, 2002 12:00 AM