Baylor Regents Approve Operating Budget, Elect New Regents
Board also approves relocation of Baylor School of Social Work to downtown Waco, new Nurse Practitioner/Doctor of Nursing Practice degree
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At its spring meeting today, the Baylor University Board of Regents approved a $403.3 million operating budget for 2010-2011. Regents also approved the relocation of the Baylor School of Social Work to downtown Waco and agreed to establish a new Nurse Practitioner/Doctor of Nursing Practice (NP/DNP) degree at Baylor's Louise Herrington School of Nursing.
During the two-day meeting, Regents also praised the interim leadership of Dr. David E. Garland, who has served since August 2008 as interim Baylor president, while continuing as dean of George W. Truett Theological Seminary. Garland will be succeeded June 1 by incoming Baylor President Judge Ken Starr who attended the meetings.
"The Board of Regents and I are immensely pleased with all that has been accomplished during this interim period under the leadership of Dr. Garland, who has provided an enduring example of what it means to be a servant leader," said R. Dary Stone, JD '77, of Dallas, chair of the Baylor Board of Regents. "The board extends its thanks to Dr. Garland and acknowledges that he leaves the University well positioned to achieve continued high levels of success under the leadership of Judge Starr."
Next year's budget, which takes effect June 1, reflects an increase of $13.8 million or 3.55 percent over the original 2009-2010 budget adopted by Baylor Regents last year. It includes an increase of $17.4 million or 15.9 percent to support merit and need-based scholarships, graduate assistantships, and scholarships for Baylor Law School, Truett Seminary and athletics.
"This budget includes the smallest percentage increase in an original operating budget over the past four years, but it continues our focus of increasing student quality while also helping to ensure educational access to families with need," Stone said. "Because of the strength of our conservative budgeting process, we are able to allocate a significant increase in funding for merit- and need-based scholarships to assist our students in obtaining a Baylor education."
Personnel costs will increase by $13.8 million or 5.8 percent, which will support approximately 41 new full-time faculty positions, 30 replacement faculty positions and 27 new staff positions, as well as merit raises for faculty and staff. In addition, the budget will support higher and more competitive stipends for graduate assistantships and increased funding for student workers.
"The budget priority to increase funding for salaries in recent years, even during the economic downturn, is helping the university achieve the strategic goal of attracting and retaining high-quality faculty and staff," Stone said. "We are also recruiting more academically qualified graduate students and more competitive stipends will allow us to continue this success."
To help facilitate an efficient transition in presidential leadership at Baylor, Regents re-elected Stone to a one-year term as chair. Dr. Duane Brooks, BA '84, PhD '91, of Houston, was re-elected to a one-year term as vice-chair.
The board elected five new Regents to three-year terms: Jeffrey D. Reeter, BBA '84, of Houston, managing partner, The Texas Financial Group - Houston, Austin, San Antonio - of Northwestern Mutual Financial Network; William K. Robbins Jr., BA '52, LLB '54, JD '69, of Houston, chairman of the board and CEO of North American Corp.; Philip W. Stewart, BA '73, JD '76, of La Jolla, Calif., president and partner of Terravista Corp.; Richard S Willis, BBA '81, MBA '82, of Colleyville, Texas, president of SFC LLC and an operating partner with Advent International; and Dr. Ronald L. Wilson, BA '71, MD '74,of Waco, physician, Brazos Kidney Disease Center.
"These individuals are highly regarded professionals who love Baylor University and desire to see her prosper," Stone said. "They each bring unique talents and experience that will help their alma mater grow and flourish in its mission and vision."
The board also expressed its appreciation to Regents who have completed their terms: Joseph B. Armes, BBA '83, MBA '84, of Dallas, Tommy L. Bowman, BBA '71, of Waco and Sue H. Getterman, BA '50, of Waco.
In other business, Regents approved the relocation of the Baylor School of Social Work to the former Wells Fargo Bank building at 811 Washington Ave. in downtown Waco. Baylor will lease the 33,000-square-foot, three-story building for the School, which will move from its current space in the Speight Avenue Parking Garage to downtown in spring 2011. The university has expanded the DASH (Downtown Area Shuttle) route to include the Washington Avenue location to make it easier for graduate and undergraduate students to travel between the main and downtown campuses.
The board approved the NP/DNP degree program with neonatal or family nurse practitioner concentrations at the Louise Herrington School of Nursing. The DNP degree is a clinical doctoral program designed to respond to professional mandates to move advanced nursing practice to the doctoral-educated level and address the needs of society to produce more nurse practitioners to deliver a wide range of preventive and acute health care services. The program - considered a prototype for the future - will educate students to care for vulnerable populations in the United States and around the globe.
Regents also approved three athletics projects: a new electronic video board for the Ferrell Center, renovations to the first floor of Marrs McLean Gymnasium for volleyball, competitive cheer and HHPR classrooms, and the installation of new wall-to-wall field turf at Floyd Casey Stadium.
Media contact: Lori Fogleman, director of media communications, (254) 710-6275