LOUISVILLE, Ky. (June 14, 2013) — The University of Louisville Board of Trustees on Thursday approved a $496 million general fund budget for 2013-14. The spending plan includes a 3-percent undergraduate tuition increase — the smallest increase in 14 years; an increase of nearly $1 million in university-funded financial aid; and a 4-percent salary increase for eligible faculty and staff.
The UofL trustees also approved two new academic programs: a master’s in fine arts in studio arts and design and a certificate in diversity literature.
Debby Oxley, who graduated from UofL in 1978, will receive her alma mater’s Alumnae of the Year Award. Oxley was a counselor for mentally handicapped adults and is now a trustee for The Mary K. Oxley Foundation. The foundation has been a supporter of UofL’s Signature Partnership Initiative and the Hiram Polk Surgical Endowment. Oxley is also a thoroughbred owner, breeder and was part owner of Monarchos, the 2001 Kentucky Derby winner, and Smarty Jones, the 2004 Kentucky Derby winner.
The board also heard from university president James Ramsey, who discussed highlights from the past academic year, and from Associate Vice President of Alumni Jen Heisey, who described increases in alumni engagement and philanthropy.
Provost Shirley Willihnganz told trustees that the incoming freshman class will likely be the biggest and best prepared in UofL history with an anticipated enrollment of about 2,850 and an average ACT score above 25.0.
The trustees’ next meeting is a scheduled retreat and will be July 11 and 12.