Today, in El Paso, the Finance Committee of the Texas Tech University System Board of Regents approved the Fiscal Year 2013 operating budgets for all aspects of the Texas Tech University System. Those are the Texas Tech University System Administration, Texas Tech University, Texas Tech University Health Sciences Center and Angelo State University.

The system budget is just over $1.5 billion, an increase of 5.5 percent over last year, which amounts to $37.2 million.  The formal approval of the system budget by the whole board of regents is expected tomorrow.

In other news from today's regents meeting, the Facilities Committee approved a future construction project for Jones AT&T Stadium.  The construction of a new high-definition video board at Jones AT&T Stadium will commence after the 2012 football season.  The new board will replace the one installed three seasons ago. Ribbon boards and a new sound system will also be installed at Jones AT&T Stadium.  The project also includes new equipment and the upgrading of the United Spirit Arena control room equipment from standard-definition to high-definition. The funding for the project has already been secured by the administration.