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Last updated on Friday, June 30, 2017
(VINCENNES) - A record-high $362.1 million biennial budget was adopted by the Vincennes University Board of Trustees at its June 28 meeting in Vincennes.
"This budget represents the type of investments - in people, technology, student support, and facilities - that will enable Vincennes University to continue to offer high-quality programs and the best educational value in Indiana," said VU President Chuck Johnson.
The biennial budget assumes a state operating appropriation of $40.5 million for 2017-18 and $41.1 million for 2018-19. It also includes annual tuition increases of $162 in year one and $166 in year two. Even with these increases, VU will retain its spot as Indiana's lowest cost residential institution, with the state's second-lowest tuition rates.
The proposed increase in tuition and fees drew no objections at a public hearing on May 19. The increased tuition and fees will cover rising instructional, operating, repair, and rehabilitation costs.
The budget includes $37.7 million in capital projects including $8 million for renovation of the Learning Resource Center, $9.5 million for HVAC renovation at Davis Hall and the Business Building, $5.8 million for Vigo Hall HVAC, $4.5 for renovation of the Welsh Administration Building, $3 million for a new facility for the diesel program, and $4.1 million to purchase six trainer Piper aircraft for aviation instruction.
The budget also includes $3.9 million in each of the next two years for dual credit instruction and an additional $3 million per year for instruction at career and technical centers statewide.
In each of the next two years, the biennial budget plans for modest increases in employee compensation and benefits, plus an 8 percent annual increase in health care costs.
In 2017-18 major areas of the budget include $86.7 million in general fund operations, $41.6 million in restricted funds, $23.2 million in auxiliary funds, $6.2 million in state academic debt service, and $2.3 million for business and industry programs.
Vincennes University - Indiana's First College
VU is state-supported with campuses in Vincennes and Jasper and additional sites such as Indianapolis, Lebanon, and Gibson County. A leader in developing Early Colleges statewide, VU also offers instruction at military sites throughout the nation.
In addition to offering a wide range of associate degree and certificate programs, VU also offers bachelor's degree programs in technology, homeland security, nursing, secondary education programs in mathematics and science, and special education/elementary education.
VU enrolls students from throughout Indiana, 35 other states, and 17 countries. Tuition and fees are the lowest among Indiana campuses with residence halls. VU is accredited by the Higher Learning Commission.
Founded in 1801, VU is Indiana's first college and is the only college in the nation founded by an individual who would later become President of the United States. William Henry Harrison, the ninth U.S. President, founded VU while serving as governor of the Indiana Territory. More information is available at www.vinu.edu.
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