The University of New Mexico Board of Regents has approved the fiscal year 2019 budget that is highlighted by a 1 percent salary increase with no significant budget reductions in the academic sector. Despite the $6.4 million bolster in the budget by the state for Instruction & General (I&G) funding, it was deemed necessary to include a 2.5 percent tuition increase for next year.
In addition to the tuition increase, there will be a $7 premium per credit hour for upper-division and some graduate courses, and a 2.39 percent increase in student fees. Undergraduates would see total cost rise anywhere from $88 to $214 per semester depending on the courses they take.
By limiting the premium to upper level courses, two-thirds of UNM undergraduates—about 12,000 students—will only see two out of those three increases.
The increase in tuition and fees will also provide $415,000 for campus safety measures that include cameras and lighting, a security director within the UNM Police Department, staff and an programing for the LoboRESPECT Advocacy Center and an online therapy service.
The budget also provides $200,000 for graduate student positions to support faculty who teach UNM’s core curriculum courses and $813,000 for faculty promotion and retention.
Regents tabled a proposal to deal with the athletics deficit until the department could come up with a more detailed and balanced FY19 budget proposal.
The Fiscal Year 2019 Budget development process started in September, with a review of UNM fund balances. From that point forward, UNM’s Budget Leadership Team (BLT) met bi-weekly with the goal of presenting a complete plan by the budget summit. It was this plan that was approved by the Regents.