Regents make $1.7 billion budget request
CARSON CITY (AP) – The Board of Regents is pressing the 2007 Legislature for $1.7 billion over the next two years for the state’s higher education system, including $223.6 million in enhancements.
More than $1.3 billion of that would come from the state treasury with another $361.6 generated by student fees.
Under the proposal, the percentage of the total budget covered by student fees would increase by more than 1 percent.
Per-credit costs for university undergraduates would rise 23 percent to $129.50 over the biennium while such costs for community college students would increase 8 percent to $57.25.
The proposed base budget recommended Friday by regents is $1.6 billion, up 8.5 percent over the current level. Most of that increase would cover inflation for utilities, insurance and other areas. But the amount also includes more than $30 million in salary adjustments.
Topping the list of enhancements would be more than $69 million that would be used to increase the percentage of formula funding paid by the state from 84.5 percent to 89 percent.
The formula calculates the amount of money needed to provide not only classes but instruction-related services such as libraries.
Vice Chancellor Danny Klaich told regents that the increase is needed “to ensure none of our institutions receive less money in the next two years.
Under the current formula, institutions such as the University of Nevada, Las Vegas and University of Nevada, Reno that are growing at a slower rate could actually get less money next year.
“A number of our institutions are in a situation right now where growth is somewhat more flat than it has been,” he said.
Regents again are asking legislators to increase pay for part-time faculty, saying it’s becoming difficult to keep instructors because of inadequate pay.
Such pay increases would add $13.9 million to the base budget.
The proposal also would give $32 million to Community College of Southern Nevada to compensate for its rapid growth over the last five years and $30 million to UNLV to beef up its research programs.
Regents also are seeking $52.2 million for one-shot projects such as library purchases, technology and laboratory equipment.
The proposal does not include $600 million approved by the board in June for future construction projects.
Support Local Journalism
Support Local Journalism
Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User