Baylor Regents Approve Operating Budget for 2011-2012, Elect New Officers, Members; Board Also Approves Robbins Institute for Health Policy and LeadershipMay 13, 2011
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WACO, Texas - At their spring meeting today, Baylor University Regents approved a $428.6 million operating budget for 2011-2012, 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 2010-2011 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. The budget takes effect June 1.
"We are grateful that through the goodness of God and the careful stewardship of our resources, our budget allows for continued growth and progress," said R. Dary Stone, JD '77, chair of the Board of Regents. "This budget is responsive to the needs of students and families as they pursue the goal of a Baylor education. It also recognizes our priority to increase funding for salaries as we continue to work to achieve the 2012 goal of attracting and retaining high-quality faculty. We are enormously proud of the caliber of our faculty and are pleased that our comparative faculty salary rankings, as measured by the American Association of University Professors, have reached their highest levels in 12 years."
During their meeting, the board elected five new Regents to three-year terms and welcomed a sixth elected by the BGCT. The new board members will begin their terms on June 1. They are:
M. Jay Allison, BBA '78, MS '80, JD '81, of Frisco, president, CEO and director of Comstock Resources Inc.
Dr. Kenneth Q. Carlile, BA '69, DDS '73, PhD '96, of Marshall, co-chairman of The Carlile Companies and co-owner of Camterra Resources
Jerry Kay T. Clements, JD '81, of Spicewood, CEO and chair of Locke Lord Bissell & Liddell L.L.P. law firm in Austin
Mark A. McCollum, BBA '80, of Houston, executive vice president and chief financial officer at Halliburton
C. Clifton Robinson, BBA '63, of Waco, chairman of Robinson Media Company LLC, chairman/CEO of Specialty Property Inc., and president of C.C. Robinson Property Co. II Ltd.
Milton Hixson, BBA '72, of Austin, CEO of Financial Management Professionals Inc., who was elected to the board by the BGCT last November.
"Our newly elected Regents represent some of the highest caliber leadership in all of the Baylor family," Stone said. "More importantly, each new Regent has a long and demonstrated record of support for the University and its Christian mission."
Elected to serve as new board officers were Neal T. "Buddy" Jones of Austin as chair, and Robert E. Beauchamp of Houston as vice-chair. The officers will serve one-year terms, effective June 1.
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. Chairman Stone acknowledged, in particular, the service of Mr. 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.
"We are thankful that our research efforts in the field of health care, such as those within Baylor's Hankamer School of Business and Louise Herrington School of Nursing, are expanding concurrent with the ongoing development of the Baylor Research and Innovation Collaborative (BRIC)," Baylor President Ken Starr said. "By forging closer ties with the Baylor Health Care System, Baylor College of Medicine, area hospitals and other health-related systems throughout the region and nation, the Robbins Institute at Baylor will further strengthen our commitment to path-breaking research that is closely tied to our mission of supporting human flourishing in the United States and around the world."
Baylor University is a private Christian university and a nationally ranked research institution, classified as such with "high research activity" by the Carnegie Foundation for the Advancement of Teaching. The university provides a vibrant campus community for approximately 15,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest, continually operating university in Texas. Located in Waco, Texas, Baylor welcomes students from all 50 states and more than 80 countries to study a broad range of degrees among its 11 nationally recognized academic divisions.
Media contact: Lori Fogleman, director of media communications, (254) 710-6275