Texas Tech System Budgets Approved for the 2015 Fiscal Year

Combined operating budget for the entire system is $1.73 billion, an increase of 3.1 percent from last year.

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).


Texas Tech University System

System

Established in 1996, the Texas Tech University System is one of the top public university systems in the nation, consisting of five universities – Texas Tech UniversityTexas Tech University Health Sciences CenterAngelo State University, Texas Tech University Health Sciences Center El Paso and Midwestern State University

Headquartered in Lubbock, Texas, the TTU System is a $2.5 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 21,000 employees, more than 63,000 students, nearly 370,000 alumni and an endowment valued at $1.7 billion. In its short history, the TTU System has grown tremendously and is nationally acclaimed, operating at 24 academic locations in 21 cities (19 in Texas, 2 international).

During the 87th Texas Legislature under the leadership of Chancellor Dr. Tedd L. Mitchell, M.D., the TTU System welcomed MSU Texas as its fifth member institution during the 25-year anniversary of the system. MSU Texas is the only Texas university to become a member of the Council of Public Liberal Arts Colleges. Students at MSU Texas choose from more than 60 majors and several pre-professional programs, are active in more than 100 student organizations and bring a spirit of competition to 13 NCAA Division II athletics programs.

In addition, the TTU System is one of only nine in the nation to offer programs for undergraduate, medical, law, nursing, pharmacy, dental and veterinary education, among other academic areas.

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