The College's Board of Trustees has approved a 1998-99 budget that
President Roger Hull says represents a successful answer to the perennial challenge of
providing sufficient funds to strengthen the College's competitive position while
limiting the increase in the cost to attend Union.
The $77.2 million balanced budget represents a 3 percent increase over
the current year.
The 1998-99 budget reflects a number of priorities. Among them:
— A commitment to limiting increases in the cost of a Union education.
This is the sixth consecutive percentage decrease and the smallest percentage increase
since 1970-71. The total for tuition, room and board and other fees is $29,546, a 3.79
percent increase over this year. Student charges account for about 60 percent of the
College's operating revenues.
— A commitment to meet the financial need of all accepted students. The
College will increase its financial aid budget to nearly $15.8 million, a 2 percent
increase over this year. The financial aid expenditure represents about 34 percent of
budgeted tuition and fees revenues.
— To provide fair and competitive compensation, faculty and
administrative salaries, as well as hourly wages, are to increase by 3 percent. Individual
increases will be determined based on a merit system. In addition, the budget for the
upcoming fiscal year is the second in a four-year plan to bring faculty, librarian and
certain administrative staff salaries in line with comparable positions at other
institutions.
— Providing endowed operating funds for an expanded Schaffer Library
and newly-constructed F.W. Olin Center.
— Increasing the amount spent to address facilities renewal projects
through the campus.
In other action, the College's Board of Trustees:
— Elected David B. Chapnick '59 as chairman of the board, and
Stephen J. Ciesinski '70 as vice chair. Norton Reamer '58 was re-elected
secretary.
— Honored Joseph Hinchey '47, life trustee, for his four years of
service as chairman of the board.
— Declared tenurable and promoted to associate professor the following:
Ann Anderson, mechanical engineering; Barbara Danowski, biology; Hugh Jenkins, English;
James McWhirter, physics; and Anthony Rubonis, psychology.