Published Tuesday Jun 26, 2018
In a full agenda, the Tennessee Tech Board of Trustees approved a 2.66 percent tuition and fees increase, the addition of a new engineering building to the university’s master plan, and a proposed budget for 2018-2019.
For 2018-2019, an undergraduate student taking 12 credit hours will see an increase in maintenance fees of $102 per semester.
The university’s maintenance fee (also known as tuition) covers up to 12 credit hours per semester for a student. For 2018-2019, it will be $3,930 per semester, an increase of $102 over 2017-2018. This is a 2.66 percent increase. Out-of-state students pay this maintenance fee, plus a per semester out-of-state tuition rate, which remained at $7,932. However, out-of-state students within 250 miles of Tech qualify for the Eagle’s Reach program, which offers a significant reduction to the out-of-state tuition rate.
The board also approved an increase in select mandatory fees, which are paid by all Tech students. The increased fees are the SOLO student fee and a student mental health wellness fee. The combined fees will increase $26 for 2018-2019, a 2.14 percent increase.
This year, the Tennessee Higher Education Commission set a legally binding three percent cap on tuition for all state universities and colleges.
The board also approved a $140 increase in graduate maintenance fees for 2018-2019. This increase is not subject to THEC’s binding rates. The graduate maintenance fee covers up to 10 credit hours per semester and will be $5,020, a 2.9 percent increase.
2018-2019 Budget, including employee compensation
The board approved a 2018-2019 budget of $158.7 million, including approximately $1.75 million to cover the state-mandated 2.5 percent payroll increase pool, which will be used in accordance with the university’s performance-based compensation plans for faculty and staff. Salaries account for more $70 million of the budget, with more than $34 million in the faculty category.
Updated campus master plan
The board heard a proposal to add a new engineering building to the university’s campus master plan. This action was taken to allow Tech to have a stronger proposal for state funding for the facility, which gives weight to whether a proposed facility is on a university’s master plan or not. Previously, the board approved adding the engineering building to Tech’s capital projects request list in August 2017.
New strategic plan
The board also approved a new university mission statement and the Tech Tomorrow strategic plan. The 18-member, faculty-led strategic planning steering committee began last fall and produced a mission, vision, core principles and four strategic goals for the university.
In other board actions:
- Tenure and/or promotion for 37 different faculty members (with a total 18 receiving tenure and 31 receiving promotion)
- Emeriti President contracts for former presidents Angelo Volpe and Bob Bell
- Various university policies, including a policy on faculty tenure, which was largely based on the previous Tennessee Board of Regents policy; the board also directed President Phil Oldham to review the policy with the understanding of creating a tenure policy specifically tailored to Tennessee Tech (the board’s expectation is any policy revisions will go through the university’s established policy procedures)
Today’s meeting was the first board meeting for new trustee Rhedona Rose, who was appointed by Gov. Bill Haslam earlier this year. Rose was appointed to the board’s Audit & Business Committee.
Materials from today’s meeting and the webcast of the full board meeting are available at the board’s website, www.tntech.edu/board.
The board’s next meeting is Sept. 18, 2018.