August 7, 2014
Written By Jaryn Kilmer
The Finance and Administration Committee of the Texas Tech University System Board of Regents today (Aug. 7) gave preliminary approval to the Fiscal Year (FY) 2015 operating budgets for the TTU System Administration, Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University and Texas Tech University Health Sciences Center at El Paso.
“This investment maintains our commitment to responsible growth and ensures we are able to provide the resources necessary to advance our universities,” Chancellor Robert Duncan said. “Our students go on to be competitive in the workforce, which provides a substantial return and creates a better future for the State of Texas.”
The FY 2015 operating budgets run from Sept. 1, 2014, to Aug. 31, 2015, and are prepared on the basis of state appropriations and projected auxiliary, designated and restricted funds. The combined FY 2015 operating budget for the entire system is $1.73 billion, an increase of 3.1 percent more than last year’s combined budget.
Each university’s operating budget is approved individually. Texas Tech University’s FY 2015 operating budget totals to $800 million, and the FY 2015 operating budget for Angelo State University is $102 million.
The FY 2015 combined operating budget for Texas Tech University Health Sciences Center and Texas Tech University Health Sciences Center at El Paso is $820 million. Appropriations for Texas Tech University Health Sciences Center at El Paso will be made separate in the upcoming legislative session.
Final approval of FY 2015 operating budgets by the full board is expected Friday (Aug. 8).
Established in 1996, the Texas Tech University System is one of the top public university systems in the state of Texas and nation, consisting of four universities—Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University and Texas Tech University Health Sciences Center El Paso.
Headquartered in Lubbock, Texas, the Texas Tech University System is a $2 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 20,000 employees, more than 50,000 students, nearly 325,000 alumni and an endowment over $1.1 billion.
In its short history, the Texas Tech University System has grown tremendously and is nationally acclaimed, operating on more than a dozen campuses statewide and internationally. Under the dynamic leadership of Chancellor Robert L. Duncan, the Texas Tech University System has set forth a bold vision of excellence, collaboration and innovation and continues to prove that from here, it’s possible.