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U of L trustees approve budget for coming year

Jun. 13, 2013 @ 04:41 PM

LOUISVILLE, Ky. — University of Louisville trustees have approved a $496 million general-fund budget for the coming year that includes the smallest undergraduate tuition increase in 14 years.

The spending plan approved Thursday calls for a 3 percent increase in undergraduate tuition for the next academic year.

The budget includes a 4 percent salary increase for eligible faculty and staff. And it features a nearly $1 million increase in university-funded financial aid.

The trustees also approved two new academic programs — a master’s in fine arts in studio arts and design and a certificate in diversity literature.

U of L Provost Shirley Willihnganz told trustees that the incoming freshman class will likely be the biggest and best prepared in school history, with an anticipated enrollment of about 2,850 and an average ACT score above 25.