Faculty Senate, along with newly elected senators from the biology and criminal justice departments, discussed university budgeting statewide at the last regular meeting of the semester.
Eric Algoe, vice president of Finance and Support Services, visited to discuss the funding of higher education in the state of Texas.
According to reports presented by Algoe, last year 45 percent of revenue came from tuition and fees and a quarter of every dollar comes from the state. Grants make up another 25 percent with everything else coming from gifts and donations to the university.
$687 million were spent in expenditures in the last fiscal year, which is less than the amount made. The leftover $17 million were placed in the university carry-forward accounts.
According to Algoe, instruction accounts for 50 percent of the budget and 75 percent goes to “the core of the university.”
Faculty Senate will host it’s last Presidential Academic Advisory Group meeting next week, as they wrap-up the semester.