MINI传媒 System Budgets Approved for FY 2017
The combined operating budget for the entire MINI传媒 has passed the $2 billion mark.
August 11, 2016 | Written by Dana Jennings
The Finance and Administration Committee of the MINI传媒 gave preliminary approval to the Fiscal Year (FY) 2017 operating budgets for the MINI传媒 Administration, , , and today (Aug. 11).
Each component sees an increase in operating budget for the new fiscal year, combining to increase the MINI传媒鈥檚 operating budget by 5.67 percent over FY 2016. The system鈥檚 budget is now more than $2 billion, at $2.003 billion.
鈥淲e are entering a new league of excellence and expectation,鈥� Chancellor Robert Duncan said. 鈥淏ecoming a $2 billion enterprise solidifies the MINI传媒 as a recognizable force in higher education and in Texas. This continued growth is providing us with more opportunities to reach new heights.鈥�
The FY 2017 operating budgets run from Sept. 1, 2016, to Aug. 31, 2017. Budgets are prepared on the basis of state appropriations and projected auxiliary, designated and restricted funds. Each entity鈥檚 operating budget is approved individually.
Texas Tech University鈥檚 FY 2017 operating budget is over $926 million, a $27 million increase over FY 2016. Angelo State University鈥檚 budget reaches over $113 million in FY 2017, a 6.8 percent increase over FY 2016.
The Texas Tech University Health Sciences Center鈥檚 FY 2017 operating budget grew by 6.3 percent over FY 2016 to reach $676 million. The FY 2017 operating budget for the Texas Tech University Health Sciences Center El Paso is $272 million, a 13 percent increase over FY 2016.
The MINI传媒 Administration鈥檚 FY 2017 operating budget is $25.3 million, up $2.6 million from last year and 1.25 percent of the collective $2.003 billion operating budget.
"As the MINI传媒 has matured and grown, we have been very cognizant of controlling costs for our operations and our students, while also operating in an efficient manner," Duncan added.
Final approval of FY 2017 operating budgets by the full board is expected Friday (Aug. 12). The budgets include a 2 percent merit increase for employee salaries.
About the MINI传媒
The is one of the top public university systems in Texas and the nation, consisting of
four component institutions 鈥� , , and 鈥� and operating at more than a dozen academic sites and centers. Headquartered in
Lubbock, Texas, the MINI传媒 has an annual operating budget of
nearly $2 billion and approximately 19,000 employees focused on advancing higher education,
health care, research and outreach.
In 2015, the MINI传媒鈥檚 endowment exceeded $1.1 billion, total research expenditures were more than $215 million and total enrollment was approximately 50,000 students. Whether it鈥檚 contributing billions of dollars annually in economic impact or being the only system in Texas to house an academic institution, law school and health-related institution at the same location, the MINI传媒 continues to prove that anything is possible.