Trustees approve $432.9 million budget for 2012-13
Board increase scholarship funding and enhance operating budgets for instruction and student programs.
by The TCU Magazine staff
Updated: Wednesday, July 11, 2012
The TCU Board of Trustees approved a $432.9 million budget at their spring meeting in April, saying it will further support institutional goals and continue providing students an excellent educational experience. The budget also supports the next phase of the university’s “Vision in Action– Academy of Tomorrow,” which focuses on academic profile and reputation, size and balance and campus environment.
The 2013 budget will allow TCU to:
Fund new faculty and staff positions to support continued student success and enrollment growth
Increase overall financial aid by 6.5 percent, matching the tuition increase approved in November 2011
Enhance operating budgets for academic affairs and instructional support departments
Provide a salary merit pool of 3 percent for faculty and staff and increase benefits by $3 million, primarily due to expected increases in health insurance and retirement expenses
Additionally, the board approved the development of a Circle of Excellence amid Frog Alley renovations. The project includes efforts to tie together the Dee. J. Kelly Alumni & Visitors Center, its nearby lawn and the Brown-Lupton University Union; create a Circle of Excellence and transform Frog Alley into a pedestrian area with restricted vehicle access.