The University of Louisville has finalized its budget for the next fiscal year. Today (Thursday) the school’s Board of Trustees voted on what is essentially the same budget the school first proposed in April.
The final plan takes a 6% state funding cut into account and raises tuition 9%. Faculty and staff pay was increased across the board by 700 dollars.
University President James Ramsey says the pay increase is too small to spread out over the whole year.
“For most people it means more to get that in a lump sum,” he says. “So it’ll be paid in a lump sum but will become part of the base.”
Ramsey isn’t happy with the smaller raise, but he says the campus has been mostly understanding of the school’s lean budget.