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Board OKs tuition hike |
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Photo
by Peggy Harrison
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| In
his first action as U.Va.’s 37th rector, Gordon F. Rainey
Jr. (right) announced the board’s new committee on diversity.
Seated by Rainey at last week’s meeting, from left to right,
were board members Susan Y. “Syd” Dorsey, Mark J.
Kington, Thomas A. Saunders III and William G. Crutchfield Jr. |
Staff
report
Tuition
and fees will rise by 11.2 percent for in-state undergraduates next
year after action by the Board of Visitors that satisfies politics
and practicality.
State legislators, all of whom face election in the fall, passed
a bill that will enable them to tell voters they imposed a 5 percent
cap on tuition at public colleges and universities.
But
that cap is part of a complex formula, which Colette L. Sheehy,
vice president for management and budget, explained to board members
Friday. The University was allowed to double the $385 surcharge
imposed on the current semester and add that amount into this year’s
base tuition before calculating the 5 percent hike for in-state
undergrads. On top of that, the University can add a charge to recoup
the costs of the 2.25 percent salary raises approved by the General
Assembly, Sheehy said.
“The
bottom line is, we went up as much as we were allowed within the
guidelines,” said William H. Goodwin Jr., chairman of the board’s
finance committee. Full story.
Gifts benefit arena, South Lawn projects
Staff report
Three
major gifts have given new impetus to two of the University’s
biggest projects.
New
commitments of $10 million from Paul Tudor Jones II of Greenwich,
Conn., and $5 million from William H. Goodwin Jr., a member of the
Board of Visitors, have enabled the multipurpose sports and special
events center to reach the $75 million mark toward the total cost
of $130 million.
In
addition, an $8.5 million gift from U.Va. alumnus John L. Nau III
and his wife, Bobbie, will make possible a new building for the
history department as part of the South Lawn Project. Full
story.
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