Written by Robert Giovannetti
Texas Tech Finance Committee Approves 2013 Budget Pending Board of Regents’ Final Decision
The Texas Tech University System Board of Regents’ Finance & Administration Committee today (Aug. 9) approved the 2013 operating budgets for the Texas Tech University System Administration, Texas Tech University, Texas Tech University Health Sciences Center and Angelo State University.
“This budget reflects our continued investment in the educational attainment of our state and the region by providing high quality academic programs and services to a greater number of students and patients,” said Texas Tech University System Chancellor Kent Hance. “This is a good return on investment for the state, the students and their families.”
Final approval of the budget by the full board is expected Friday (Aug. 10).
The total operating budget for the entire system for fiscal year 2013, which runs from Sept. 1, 2012 to Aug. 31, 2013, is more than $1.5 billion, up 5.5 percent over last year’s budget.
“As regents we are proud of the efforts the system has made to control costs without sacrificing excellence in education and research,” said Board Chairman Jerry Turner. “We continue to see much needed growth across all of the institutions and look forward to another great year at Texas Tech.”
The overall economic impact of the Texas Tech University System’s budget on the region is approximately $12 billion, according to predictions determined for higher education by the Ray Perryman Group in a 2007 report.