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Budget Update

Dear Faculty and Staff:

We can be proud that we are the only university in Tennessee that did not increase tuition for 2014-15. In fact, out-of-state students will notice their tuition has fallen a minimum of $3,000 since last year. The new 250-R Program students will be paying a rate closer to half of last year’s out-of-state tuition.

As of July 9, the University has received more than 16,500 applications for fall 2014 (15,750 for the main campus; 750 for the Lambuth campus), an increase of 65% in one year. This overall growth has been fueled by an impressive 87% increase in new freshman applications - which top 10,760 to date - and a 28% increase in transfer student applications. We have already seen over 2,000 students register for orientation programs this summer, an increase of almost 300 students over this same time last year.

This year’s state budget does not include funds for salary increases for state and University employees. The lack of state funding means that we are unable to provide an across-the-board salary increase to U of M employees.  As funds are available, we will continue to consider individual salary adjustments, such as promotions, reclassifications and certification attainment. The good news is that although the state’s original proposed budget included a 5.5% health insurance premium increase, the state will use its reserves to delay the increase, meaning there will be no increase in group health insurance premiums in January 2015.

The University remains committed to improving the salaries and wages of all employees, particularly those at the lowest end of the pay scale.  We will continue to work on this important issue and advocate on behalf of all employees with the Governor, the Tennessee State Legislature and the Tennessee Board of Regents.

Thank you for your continued dedication and for caring so deeply about the University of Memphis and our students.  We are making great progress toward meeting our enrollment goals, and we will continue to address our financial challenges in a thoughtful and strategic way.

Regards,

M. David Rudd, President

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