Selected Outcomes for UT from the 78th Legislature
Taken from page 3 of On Campus 6/30/2003, "Significant Outcomes of the 78th Legislature for The University of Texas at Austin"
House Bill 1 (by Rep. Heflin- Houston and Sen. Bivins- Amarillo) provides a state budget for the 2004-05 biennium of $117.4 billion from all funding sources, which represents a 1.4% increase from 2002-03 level. This amount includes $16.2 billion for institutions of higher education, or a 1 percent increase over the current biennium.
UT Austin Budget Outcome
Funding for UT Austin totals $758.6 million for the biennium from state appropriated sources. Of that amount $484.7 million was in state general revenue support, representing a 0.12 percent increase from 2002-03. This amount includes $19.5 million for full 100 percent indirect cost return.(UT Watch note: we are unsure if these figures have taken inflation into account).
HB 1887 (by Rep. Morrison- Victoria and Sen. Ratliff- Mt. Pleasant) allows institutions of higher education to retain the full 100 percent of indirect cost return on research. These funds will be used to support research by strengthening capacity to set up new research and laboratory facilities for faculty members and by providing required matching funds for federal grants, seed money for new research programs and funding for special equipment or facilities.