The UNM Board of Regents passed a $1.48 billion budget Wednesday for the 2004-05 academic year.
UNM President Louis Caldera said the budget, an $85 million increase from last year, is a reflection of priorities. He lauded the student body for accepting the 12.8 percent tuition increase in April. Regents expect the tuition increase, along with other sources of revenue, to yield $15.66 million in new funds.
Caldera said students agreed to the record tuition increase, provided the funds it produced were used for specific improvements, including providing adequate classes, improving need-based aid and better support for graduate students and teaching assistants.
"You can only demonstrate (appropriate use of funds) if you have a budget process that is transparent, that shows where that money is being spent," Caldera said. "This is really the first step toward that kind of budget process. We will continue to work on improving it."
The money was divided as follows:
l Main Campus was allocated $509,146,431, or 34.3 percent of the budget.
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l Health Sciences was allocated $407,253,161, or 27.4 percent.
l UNM Hospital was allocated $404,322,283, or 27.2 percent.
l Physical Plant was allocated $125,514,540, or 8.5 percent.
l UNM Branch Campuses $38,275,011, or 2.6 percent.
Student Regent Andrea Cook and Regent Sandra Begay-Campbell were absent from the meeting. Regents President Jamie Koch said if regents fail to show up to a board meeting, and do not make their votes known beforehand, their votes are not registered.
"They don't have to be there to vote," he said. "They should."
Caldera highlighted the changes made to the budget process in a report.
"The approval of this budget marks the beginning of a new era for UNM," he stated. "One that will continue to involve the broad campus community in setting priorities, provide accountability for budget decisions and move toward a more self-sufficient institution."
Faculty Senate President Beverly Burris used Wednesday's meeting to say goodbye to the regents, and expressed gratitude for the work the board carries out. Her position at the Commission on Higher Education will allow her to be in contact with the regents.
Edward Desantis, a lecturer in the University Honors program, will be the new Faculty Senate president.
President Caldera announced he will not cancel Friday's classes, despite Gov. Bill Richardson's declaration that Friday is a day of remembrance for former President Ronald Reagan who died on Saturday. Richardson ordered all nonessential government offices closed for the day.
"Our teaching mission and responsibility to our students come first," Caldera said.
He encouraged instructors to make accommodations for students who want to mourn Reagan's death.
"This way we wish to both honor President Reagan and the leadership of Gov. Richardson in declaring this (day) a remembrance, and still be able to fulfill those aspects of our mission that are really a 24-hour-a-day mission," Caldera said.
