The Tennessee Board of Regents voted Friday to approve tuition increases, and Gov. Phil Bredesen signed the state budget that held higher education base funding reductions at 6 percent.
These actions mean TTU will not have to take more severe reductions as we start into the new fiscal year.
Campus officials now have a somewhat clearer picture of what the coming fiscal year will bring. At TTU, officials expect tuition increases based on the number of hours enrolled to have an impact similar to that of a 6.7 percent tuition increase. The university had already budgeted for a projected 5 percent tuition increase, along with 1.8 percent enrollment growth.
Two important elements of the budget timeline are still to come:
- September: As enrollment numbers are finalized, officials will know whether additional funds will be available (if growth is greater than 1.8 percent). State economic officials will also have a clearer picture whether one-time employee bonuses will be funded.
- October: A full and final budget picture will be available. If funded, one-time bonuses will be distributed.
The TBR reported that the tuition increases are aimed at recovering only 80 percent of lost state funding and inflation costs. Over the past three years, the TBR system has lost 25 percent of its state funding, almost $186 million. With the most recent 6 percent cut, TTU has lost more than 30 percent in total state appropriations since 2008.
For more details on the tuition increase, a recap of the bonus discussion or a complete list of budget stories and information, visit www.tntech.edu/budgetcentral.