The University of Virginia Board of Visitors has passed a $2.5 billion budget for the 2011-2012 fiscal year. In a historic decision, the board voted for the first year-to-year decrease in the budget for the academic division. But, there were some budget increases; the UVA Health System received a 10.3 percent increase raising their spending plan to $1.1 billion.
A release from UVA explained, the reduction was mainly due to 51.5 million cut in state funding since October 2007, as well as the expiration of federal stimulus spending. The release also states, “The budget anticipates a slight reduction of the academic division workforce by attrition, from the equivalent of 8,756 full-time positions to 8,739.”
The university says the increase for UVA Health System is due to anticipated revenue from new facilities, mainly the Emily Couric Cancer Center, the Transitional Care Hospital as well as the new expansion of the Medical Center.
In addition to the budget, the Board of Visitors also approved a resolution to cut the university’s greenhouse gas emissions to 250,000 metric tons or less by 2025, 25 percent below emission levels measured in 2009.
The board also addressed future renovations to the Academical Village, a UNESCO-designated World Heritage Site. Although the board did not agree on specific projects, they did approved guidelines of “periods of significance,” for the oldest locations on grounds. The plan, “A Planning Framework for Future Work in the University of Virginia’s Academical Village,” states that all future projects must be presented to the board. In the fall, the board will address recommendations to restore and repair the Rotunda.