University announces $12 million budget increase

Xavier University has announced a budget of $215,965,000 for the upcoming fiscal year, an increase of almost $12

million from the last budget. Most notably, financial aid for students will increase by 10 percent, the funds used

to renew and replace facilities on campus will increase by $1.5 million and salaries, wages and benefits will rise by almost $3 million. The budget, which was formally approved

last month, emphasizes the need to focus on the people and the possibilities of the University. This includes an improvement in mobile technology and technology in the classroom. The goals of the University are separated into three different categories of importance: mission critical, mission central and mission beneficial. This year's budget is based predominantly on the "mission critical" issues -

the immediate opportunities that Xavier University has to take advantage of in the next 18 months to maintain a competitive

advantage and the threats that have to be neutralized in that same time frame. According to Provost and Chief Academic Officer Dr. Scott Chadwick, the budget is full of "new initiatives and great ideas to implement." Chadwick believes that this year's budget reflects the University's aims to build

an intellectual community with possible faculty/student research and likewise form international relationships with universities outside of the United States. "I have great confidence in the faculty, staff and students at Xavier University and I am pleased with the way that our

budgeting process increasingly relies on their good ideas," Chadwick said. Tuition prices will be increasing for the forthcoming year by around 3 percent, a lower rate than other private schools in the area such as Thomas More College, who will increase their tuition by around 4 percent.