by Gabe Bullard
The University of Louisville Board of Trustees Thursday approved a budget for the next fiscal year. The budget again deals with cuts in funding from the state and includes a tuition increase.
U of L is facing a 1.4 percent cut in state funding in the upcoming fiscal year, and a 2.4 percent cut in the year following. President James Ramsey says state funding has been cut every year for more than a decade, and he’s tired of it.
“It’s no fun and unfortunately I don’t see any real changes in the immediate future,” he says. “The biennial budget is a two-year budget so it takes us through 2012 and the economy is not coming back at a rapid pace.”
The budget also includes a 6 percent tuition increase, which is the maximum allowed this year by the state Council on Postsecondary Education. Excluding administrators, full-time faculty and staff will receive a $1,200 payment in lieu of a raise.