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Thursday, January 24, 2019

December Board of Regents meeting

The December Board of Regents meeting was packed with several items of interest. They presented a near-final draft of the annual 2018 University Performance and Accountability Report (pg 178). The final will be presented in February’s meeting. The report is a reference guide to the University’s progress toward strategic goals. It is very comprehensive and includes all campus’ vision/mission, strategic planning, and Maroon & Gold progress.

As part of the Finance docket, nonresident/nonreciprocity UMTC tuition was presented. The resolution recommended nonresident/nonreciprocity UMTC tuition for 2020. While the full proposed budget will not be presented to the Board for review and action until June, over the last three years the University has increased the Twin Cities nonresident tuition rates at an annual average rate of 11.7%. For FY19, that rate ranks 12 out of 14 schools in the Big Ten.

The President recommends a 10% increase in the Twin Cities’ NRNR undergraduate tuition rate for FY 2020. This rate would apply to incoming students only. This is based on an analysis of comparative rates in the Big Ten, the quality experience offered to students, the potential impact different rate increases would have on recruitment and the effectiveness of corresponding discounting strategies. This recommendation includes a commitment to continue the practice of the last several years for continuing nonresident nonreciprocity students: holding their tuition rate increase to no more than 5.5%.

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