Indiana University Trustees passed a $3 billion budget for the 2012-2013 school year Friday morning. The budget, which covers all eight IU campuses, is about $30 million larger than this year’s.
Most of that increase (about $20 million) is going towards merit-based raises for salary employees that will average 2.2-percent.
IU Spokesperson Mark Land says individual departments will be responsible for administering the raises.
“In our department for example, we know that we have two point two percent more money for salaries than we did last year,” he says. “So it’s up to the leadership of within each operating group to determine the raises based upon performance and a variety of factors.”
Tuition for in-state undergraduate students on the Bloomington campus is going up 3.5 percent, and 2.5 percent at all other campuses.
A one-time ‘rehabilitation fee’ of $120-$360 per student will also be assessed next year, to cover repair and maintenance of campus buildings and infrastructure.
IU Chief Financial Officer Neil Theobald says because of this school year’s cost-cutting measures, IU currently employs 230 fewer employees than it did a year ago.