Board of Trustees sets budget for next academic year

Fort Worth, TX

4/11/2007

TCU’s Board of Trustees last week approved a $315 million budget for the 2007 – 08 academic year, further advancing the University’s goals of becoming a national world-class, values-centered university.

“It’s a remarkable time at TCU,” said TCU Chancellor Victor J. Boschini, Jr. “This budget supports our efforts to provide students’ a total university experience that includes access to excellent faculty and academic programs, facilities equipped with outstanding technology, opportunities for internships and ways to provide community service, both at home and overseas.”

Highlights from the budget include:

• $9.4 million in compensation for employees which includes a merit pool, new faculty and staff, market rate and structural adjustments
• $6.4 million in additional financial aid for undergraduate and graduate students
• $500,000 to improve student life including student health and well-being, residential housing, student services and provide further infrastructure support to the $100 million Campus Commons
  

The Trustees also approved moving forward with the renovation of Reed Hall, the Brown-Lupton Student Center, and two residence halls, Clark and Wiggins. Reed Hall and Brown-Lupton will be reconfigured into academic space; Wiggins Hall, which will be renovated this summer and open in the fall, will house two fraternities and a new chapter of the Gamma Phi Beta sorority; and Clark Hall will undergo a renovation at the beginning of next year with a scheduled completion of fall 2008. Once reopened, Clark will house both men and women.

Additionally, the Trustees approved tenure for 12 faculty members as well promotion to the rank of professor for three faculty, rank of associate professor for eight faculty, and emeritus faculty rank for seven faculty.

In other board business the Trustees heard from TCU Admission Dean Ray Brown who reported that TCU has now received 11,703 for 1,650 spots in TCU’s fall freshmen class. Brown told Trustees he expects at least another 100 applications for the fall class.

Dr. Boschini requested that a resolution honoring Dee J. Kelly and bestowing him emeritus Trustee status be read to the full board in recognition of Mr. Kelly’s contribution to TCU throughout the years. Kelly, who is stepping down from the board this year, has served on many board committees including the executive and trusteeship committee and the nominating, faculty relations, development, intercollegiate athletics and student relations committees. Kelly also was recognized as TCU’s Distinguished Alumnus of 1982 and the Dee J. Kelly Alumni & Visitors Center is named for him. He also has shown great generosity to TCU through the years and served as co-chair of The Next Frontier Campaign, a comprehensive campaign, and as a member of the Chancellor’s Council and a Founder of the Addison & Randolph Clark Society, as well as a Centurion of the TCU Frog Club.

The Trustees concluded their meeting by attending the unveiling of a photographic portrait of the late Winthrop Rockefeller, former governor of Arkansas, emeritus Trustee and graduate and supporter of TCU’s Ranch Management Program. The photo of Mr. Rockefeller will hang in the lobby of the Ranch Management building.

The next Board of Trustees meeting is scheduled for November 7 - 9, 2007.