UVM

Readers will be glad to know our state university is in much better shape than it was a year ago. This past weekend the University of Vermont Board of Trustees held a regular meeting on campus. The May meeting is always quite interesting because it occurs on graduation weekend and we trustees get to see the most important results of our work. I'm always so proud of our students, especially the Franklin County folks who graduate or receive graduate degrees.

Revenue to operate the university comes from several sources, including student tuition. The economy seems to be recovering and this shows in the reduction of need for student aid. There is $5 million left over in unspent FY12 student financial aid because of reduced need. Applications received from incoming students are stable with previous years. Tuition will increase 3.5% for both in state and out of state students. Eighteen percent of Vermont students at UVM pay full tuition, the rest receive some financial aid. Twenty-seven percent of the 2,991Vermont undergraduates attending UVM pay no tuition or fees at all. Four percent of the 6,384 out of state students pay no tuition at all, and twenty percent of them pay full tuition and fees. Instate tuition and fees is $14,754; out of state tuition and fees is $34,394. The Spires of Excellence are being recognized and the application of knowledge generated from each of the spires is encouraging . The University's reputation for excellence in scholarship does not appear to be tarnished.

One of the other major revenue sources is donations. This past year was one of the very best for private fundraising ever at UVM. Monetary gifts are up and the new UVM Foundation is on solid footing. Governor Shumlin's Committee is set to have significant input. At the end of April 95% of expected revenue for the fiscal year had been collected and 75% of it had been spent. Budget revenue and expenditures are projected to increase 2.4% overall for the 2012/13 school year. Good efforts have been made in revenue enhancement and cost reduction. The main reasons the budget has slowed has to do with reduced student aid need, lower energy costs and a modest 2% salary increase for all employees.

Nobody knows better than a trustee how extremely difficult the circumstances were for UVM a year ago. I'm watching closely and can report that things are getting better. If you'd like more information on the University of Vermont contact me at cbranagan@leg.state.vt.us

Rep. Carolyn Branagan
Franklin-1, Georgia/Fairfax
Vermont House of Representatives