COLLEGE STATION, Texas — The Texas A&M University Board of Regents approved a $4.2 billion budget to fund operations at its 11 universities, seven state agencies and health sciences center for fiscal year 2016. This marks the first time the A&M System’s budget has passed $4 billion. The 11 percent increase over fiscal year 2015 is primarily driven by a 10 percent increase in legislative appropriations, projected growth in enrollments and 13 percent more grant and contract revenue from external sources.
Revenue from tuition and fees are budgeted to increase 10 percent when compared to fiscal year 2015, but that increase is driven by rising enrollments, a 7 percent increase in non-resident tuition (as set by the Texas Higher Education Coordinating Board) and a slight increase (1.93 percent) in Fall 2015 tuition and fee rates.
The 1.93 percent increase affects only students enrolling for the first time in the fall 2015. For students already enrolled, fiscal year 2016 is the second year in the A&M System’s guaranteed tuition and fee plan that freezes a student’s rates for four years.
During this past legislative session, Chancellor Sharp led the A&M System’s Presidents in maximizing formula funding from the state. As a result, the A&M System accounted for almost half of the total statewide increase.
The budgeted expenditures for fiscal year 2016 are:
Texas A&M University $1.5 billion
Prairie View A&M University $186 million
Tarleton State University $164 million
Texas A&M International University $107 million
Texas A&M University at Galveston $68.6 million
Texas A&M Health Science Center $347 million
Texas A&M University-Central Texas $34 million
Texas A&M University-Commerce $156 million
Texas A&M University-Corpus Christi $183 million
Texas A&M University-Kingsville $139.9 million
Texas A&M University-San Antonio $53.7 million
Texas A&M University-Texarkana $32.7 million
West Texas A&M University $128 million
An executive summary of the FY 2016 budget is available at http://www.tamus.edu/business/budgets-and-accounting/budgets/system-executive-budget-summary/
.About the A&M System
The A&M System is one of the largest systems of higher education in the nation, with a budget of $3.8 billion. Through a statewide network of 11 universities, seven state agencies, two service units and a comprehensive health science center, the A&M System educates more than 135,000 students and makes more than 22 million additional educational contacts through service and outreach programs each year. Externally funded research expenditures exceed $820 million and help drive the state’s economy.