BOV Adopts $422 Million Budget for 2002-03
Posted: May 16, 2002 at 1:00 am, Last Updated: November 30, -0001 at 12:00 am
George Mason’s Board of Visitors (BOV) concluded its final regular meeting of the year by unanimously passing a $422 million budget for the 2002-03 academic year. This total budget includes a $202 million educational and general (E&G) budget, which is approximately 1.5 percent less than this year’s E&G budget. Following are the highlights of next year’s E&G budget:
- The total funding per FTE student will be $10,360 as compared with the current total of $10,750. The slight decline is due to fewer resources and an increased student enrollment.
- In developing the FY2003 budget, the university is reallocating approximately five percent of available funds to address such areas as program enhancement and enrollment growth.
- As a result of these allocations, the percentage of the E&G budget allocated to instruction will increase from 53 to 55 percent.
In other matters, President Alan Merten and BOV member Sidney Dewberry, who is also serving as chair of George Mason’s comprehensive campaign, announced that the university has raised approximately $80 million toward its overall goal of $110 million.