A major component of the budget is the Provost's Academic plan which provides for new tenure track faculty to replace faculty members who have retired and to expand the academic program in specific areas. The budget allocates an additional $464,000 to University Libraries and $1.25 million to the Athletics Dept on a one time basis. Student tuition and fees will increase by 3.75 percent, beginning in fall 2012. For more information, visit Consolidated Budget FY2012-13.
The approved budget also included a one-time supplemental payment of $1,100 for all university staff as well as main and branch campus faculty. The supplement will partially offset increased health costs. In the FY 13 budget UNM's salary tier contribution schedule for employee health insurance will be adjusted so that UNM will contribute
- 80 percent (the maximum allowed by the State of New Mexico) of the premium of full-time, active employees earning less than $35,000 a year.
- 70 percent for those earning between $35,000 and $50,000.
- 60 percent of the premium for employees earning $50,000 or more per year.
For the employees who are impacted, UNM will contribute more to minimize the premium increases due to the rising cost of health care.
The Health Sciences Center portion of the budget anticipates a major planned expansion as the Sandoval Regional Medical Center opens in Rio Rancho this summer. Regents discussed continuing concerns about uncompensated care costs, which are anticipated to total more than $200,000 in FY 2013. For more information, visit HSC Budget.
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