UT approves $1.4B budget for Austin campus
Austin Business Journal
August 7, 2003
The University of Texas' flagship Austin campus will receive $1.4 billion for fiscal 2004 and an additional $612.3 million for a six-year capital improvement plan as part of budgets approved by Thursday by the UT Board of Regents.
The $1.4 billion budget for 2004 represents a 5.1 percent increase over the 2003 budget. The Austin campus' budget is the largest of the UT System's nine academic campuses.
UT employs 22,000 people in Austin.
The regents approved a $7.8 billion operating budget for all the academic campuses and six health institutions for fiscal 2004, which begins Sept. 1.
The UT System's $4.59 billion capital improvement plan includes 166 projects on the nine academic campuses and six health institutions, with $1.26 billion worth of new construction. The system estimates the projects will have a total economic impact of more than $40 billion on the state economy over the next 10 years.
The capital improvement budget is approved for planning purposes. Each major construction project must be brought to the regents for individual endorsement.
© 2003 American City Business Journals Inc.