Thursday, the Texas Tech University System Board of Regents started the first of two days of meetings.

A board committee gave preliminary approval to the Fiscal Year 2016 operating budgets for all facets of the university system; TTU System Administration, Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University and Texas Tech University Health Sciences Center El Paso. The proposed system budget is $1.9 billion, up 9.2 percent from the prior year.

“These budgets reflect our commitment to responsible growth while ensuring our component institutions are armed with the necessary financial resources in a higher education environment that is becoming increasingly competitive,” Chancellor Robert L. Duncan said.

Texas Tech University’s budget is set for almost $900 million, up 12 percent from last year and Angelo State’s budget will be $106 million, up 3 percent from last year.

The FY 2016 operating budget for the Texas Tech University Health Sciences Center is $636 million, a 6 percent increase over last year, and the FY 2016 operating budget for the Texas Tech University Health Sciences Center El Paso is $241 million, a 9 percent increase over the prior year.

Final approval for the system budgets is expected on Friday.

In other regents news, a board committee gave preliminary approval to the creation of two new dual degree programs for Biomedical Sciences & MBA. Officially the programs are: doctor of philosophy in biomedical sciences with an MBA or a master of science in biotechnology with an MBA.

If approved by the regents, on Friday, the proposed dual degree programs would then have to be approved by the Texas Higher Education Coordinating Board and Southern Association of Colleges before being implemented.

More From News/Talk 95.1 & 790 KFYO