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The University of Michigan Board of Regents will meet at 9 a.m. today virtually. This is the board's annual budget meeting where tuition will be set. Watch here: https://umich.edu/watch/ and follow along with me in this thread. @freep
Interesting note - all the regents and executive officers are on individual screens from different locations, but all are wearing face masks.
Pres. Mark Schlissel begins by thanking everyone for wearing masks in a "symbolic gesture" to highlight the importance of masks.
Schlissel asks for a a moment of silence "in honor and remembrance of the victims of hatred and racism in our nation."
BREAKING: U-M Pres. @DrMarkSchlissel proposes a 1.9% increase in tuition for in-state and out-state students for U-m Ann Arbor. @freep
BREAKING: U-M Pres. @DrMarkSchlissel announces a $10 million fund to be shared by U-M Flint and U-M Dearborn for student success programs. Says it is "part of our ongoing commitment to our regional campuses to help them best serve their students and the state.”
U-M Flint student Thomas Chung: “We students shouldn’t have to bear the burden of the recession.”
Student Damian Chessare says student government has surveyed students about fall, says students expect a hybrid semester, but want reductions in tuition and fees for items they won't be using, including lectures, etc.
Interim Provost Susan Collins is warning there could be further cuts to U-M's budget if enrollment targets aren't met or state aid is slashed
BREAKING: U-M recommending a 1.9% increase in room and board costs on top of the 1.9% tuition increase.
U-M proposing a $50 per student fee for COVID-related expenses
Regent @Denise_Ilitch on budget and tuition increase: "The value proposition (of a U-M education) has shifted this year. The university will do it best, but it's just not the same."
Regent @Denise_Ilitch: "A tuition cut would actually be in order.... raising tuition 1.9% is ... tone deaf."
Regent @Denise_Ilitch: "Raising prices when we have high unemployment... most people in private sector taking... decreases in compensation is just plain wrong."
Regent @Denise_Ilitch: "the university of michigan is a wealthy institution and (can afford) to maintain the status quo. We have over a $12 billion endowment. Our spending rate can be changed to reflect our current reality."
Regent @Denise_Ilitch says she will vote against the tuition increase
BREAKING: U-M Flint to increase tuition by 3.9%
BREAKING: U-M Dearborn to increase tuition by 1.9%
Here is the U-M Ann Arbor Central Student Government's survey of its student body about reopening. Worth noting big chunk of students want tuition decreased if hybrid or online: https://www.csg.umich.edu/post/covid-19-tuition-and-enrollment-survey-report
Up next presenting budget for next year is athletic director Warden Manuel
AD Manuel says revenues for this current year were budgeted at $196.6 million; came in at $187.4 million. Expenses all dropped and will end at 186.4 million
BREAKING: U-M AD Warden Manuel projecting athletic department will have a shortfall of $26.1 million for next year. Expects revenue to drop $65 million over last year. If no games, that could increase. Says department has reserves and making other moves to cover. @freep
Manuel: Says revenue from admissions will drop by $29 million in the coming year under this projection. That could change quickly.
Regent Michael Behm noting that many students won't feel the impact of the tuition increase because of financial aid. says not voting for tuition increase would result in less money to university for financial aid.
Regent @MGoBernstein: We use a small tuition increase to keep college affordable. Says he is in favor of having those who can afford to pay more pay more.
Regent @drshaunadiggs notes the uncertainty about the coming year makes it hard for her to make a decision on voting on the budget.
Regent Paul Brown will vote against current budget. says support small tuition increase, but says there should be more resources sent to U-M Flint and U-M Dearborn.
Regent @JordanAckerMI: Wants to echo @Denise_Ilitch thoughts. Says he normally agrees with Regent Bernstein, "but then I look at the numbers... i look at where economy has gone. I look at this budget and all I see is uncertainty."
Regent @JordanAckerMI says he thinks university won't make it through semester (face to face). says he can't see fans in the football stadium this fall. says he wants to be realistic.
Regent @JordanAckerMI challenges U-M Pres. @DrMarkSchlissel to be transparent and show the university's work on how it will increase support for Flint and Dearborn.
BREAKING: U-M Board of Regents votes down administration's proposed budget, including a tuition increase of 1.9% @freep
This is the first time I can remember in a decade of covering U-M that its board has voted down an administration's proposal
the vote to reject the budget covers not only U-M Ann Arbor but also athletics, U-M Flint and U-M Dearborn
University administrators will now go back to the drawing board and redo a budget and bring it to the board in July. The current budget runs out at the end of June.
Board elects @Denise_Ilitch as board chairwoman and @JordanAckerMI as board vice chairman.
Board is discussing a labor proposal. My colleague @samuel_zwickel will have a story soon after the meeting on that discussion. I had to work on budget story.
