Board approves budget, elects new officers and members, gives go-ahead for new business school institute
At their May 13 meeting, Baylor University Regents approved a $428.6 million operating budget for 2011-12, elected new officers and board members, and approved the establishment of the Robbins Institute for Health Policy and Leadership in Baylor's Hankamer School of Business.
Next year's budget reflects an increase of $25.3 million or 6.3 percent over the original 2010-11 budget adopted by Baylor Regents last year. It includes an increase of $22.5 million to support merit and need-based scholarships, graduate assistantships and scholarships for graduate and professional students. In particular, the budget includes a new initiative to help continuing Baylor students pay for their education. As previously announced, the initiative provides $2 million to help financially support students with a cumulative GPA of 3.0 or better who demonstrate continuing need upon filing the FAFSA in advance of the priority filing date.
Personnel costs will increase by $14.8 million or 5.9 percent, which will support approximately 19 new full-time faculty positions, 43 replacement faculty positions and 31 new staff positions. The budget also supports merit raises for faculty and staff, more competitive stipends for graduate assistants and increased funding for student workers.
During their meeting, the board elected five new Regents to three-year terms and welcomed a sixth elected by the BGCT. They are:
Elected to serve as new board officers were Neal T. "Buddy" Jones, BA '74, JD '75, as chair, and Robert E. Beauchamp as vice-chair. The officers will serve one-year terms.
The board also expressed its appreciation to Regents who have completed their terms: Stan Allcorn, BA '76, Wes Bailey, BBA '78, R. Stephen Carmack, BS '70, MS '72, and Harold R. Cunningham, BBA '56. Board Chair R. Dary Stone, JD '77, acknowledged in particular the service of Cunningham, which has included serving as Baylor's acting president (July 24-Aug. 20, 2008), chair of the Board of Regents (2007-08), vice president for finance and administration, acting director of operations and vice president for special projects.
In other business, Regents voted to establish the Robbins Institute for Health Policy and Leadership, which will serve as an interdisciplinary foundation for all health care-related initiatives in the Hankamer School of Business, including teaching, external programming and health services research. Following national accreditation for the Robbins MBA Health Care Program and the program's No. 25 ranking by U.S.News & World Report 2011 graduate school rankings, the activities of the Robbins Institute will continue the tradition of excellence in health care education and scholarship at Baylor.
Building on the university's ties with health care organizations in the region, the institute's external programming will move beyond the traditional academic setting to encompass executive education, a niche Executive MBA for health practitioners, clinicians and executives, and certificate training for health practitioners. In addition, the Institute will support the study of new approaches to health care policy, delivery and financing.