The Vincennes University Board of Trustees has approved a record budget for the next two academic years. The budget includes increases in tuition for each year, though the university says it will continue to have the state’s second-lowest tuition rates.
The more than $362 million budget includes nearly $40 million in capital projects such as the renovation of the university’s Learning Resource Center and Welsh Administration Building, as well as the construction of a new facility for its diesel program. The budget also covers the purchase of six trainer Piper aircraft for aviation instruction.
The tuition increases come to an additional $162 in in the 2017-2018 academic year and $166 the following year. VU says the increases will cover rising instructional, operating, repair, and rehabilitation costs.
"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 university adds the budget plans for "modest" increases in employee compensation and benefits in each of the two years, as well as an 8 percent annual increase in health care costs.