Texas Tech Approves 2015 Fiscal Year Budget

Budgets for the Texas Tech University System’s 2015 fiscal year have been approved.

On Friday, August 8, the Finance and Administration Committee of the Texas Tech University System Board of Regents gave approval to 2015 Fiscal Year Operating Budgets for the university system.

The FY 2015 operating budget covers from September 1, 2014, to August 31, 2015. The combined budget for the entire system is $1.73 billion which represents a three percent increase from last year’s budget.

“This investment maintains our commitment to responsible growth and ensures we are able to provide the resources necessary to advance our universities,” Chancellor Robert Duncan said. “Our students go on to be competitive in the workforce, which provides a substantial return and creates a better future for the State of Texas.”

Each university that is a part of the system receives their own allocation of the $1.73 billion. Texas Tech University’s FY 2015 budget totals $800 million. Recently, the Board of Regents allocated $2.5 million of that budget for campus beautification projects for Urbanovsky Park.

The Texas Tech University Health Sciences Center and the Texas Tech University Health Sciences Center at El Paso combined budget is set at $820 million. Allocations of this budget will be decided in an upcoming legislative session.