October 11, 2018 02:57 PM
The University of Minnesota Board of Regents is kicking off two days of meetings Thursday.
President Eric Kaler's recommended Biennial Budget Request was approved by the board.
The university is asking for $30 million for 2020 and $27 million for 2021 on top of its base funding from the state. Regents said the request is reasonable compared to previous years and other schools.
"The core funding support would help us provide competitive compensation rates to our talented faculty and staff, which is a high priority for the university, and in addition to that, we would work through the annual budget process to identify and fund the highest priorities across all five campuses," said Julie Tonneson, the associate vice president of university finance.
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Increasing tuition for out-of-state students was also a focus of Thursday's meeting.
Kaler is recommending a 10 percent tuition increase for those students in 2020 and an additional 5 percent in 2021.
"We must be prepared to offer additional discounting awards to potential students and to review and adjust those awarding strategies as the environment continues to change," said Tonneson.
"I'm supportive of 10 percent but cautiously supportive. I would not support a bigger number because I feel like what you are telling us is that we are getting really close to a point where we may do more harm than good," said Regent David McMillan.
A decision won't be made until the end of the year.
Updated: October 11, 2018 02:57 PM
Created: October 11, 2018 02:50 PM
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