BLACKSBURG, Va. – A $1.5 billion budget was approved Monday by the Virginia Tech Board of Visitors for the 2017-18 fiscal year, the university announced.
The budget is a 2.3 percent increase over this year's budget, with $18.9 million going to educational and general programs and $8.3 million going toward the projected growth in auxiliary enterprises.
The budget also includes compensation increases for faculty and staff, resources to support growth in enrollment and an investment in new academic initiatives.
The university said the $33.6 million increase over this year's budget comes at a time when Virginia Tech is moving forward with its lowest increase in tuition and fees for in-state undergraduate students.
The board additionally approved a resolution to create a new Master of Science degree program in translation biology, medicine and health, which will draw faculty from six colleges and three university-level institutes. It will prepare graduates for careers in research and research-related positions in universities, biotechnology and pharmaceutical companies, health systems, hospitals and clinics, public health and other health care and human service agencies and foundations, with a focus on interdisciplinary and translational research applications, the university said. With approval by the State Council of Higher Education for Virginia, the new degree program will begin in the fall.
Also approved by the board is a resolution to complete renovations to 20,800 square feet of undergraduate laboratories in Derring Hall and Hahn Hall North, adding 168 new stations to the science instruction lab, which are needed for high-demand course sections in microbiology, organic chemistry, chemistry and biology.
A new leadership team for the board for the 2017-18 year was announced on Monday:
- Dennis Tracy will serve as rector.
- Debbie Petrine will serve as vice rector.
- Kim O'Rourke will serve as secretary to the board.
- Robert Sebek will serve as the staff representative.
- Hans Robinson will serve as the faculty representative.
The complete list of faculty promotion, tenure and continued appointments for 2017 that were approved by the board can be found here.