ODU Board of Visitors Approves 2015-16 University Budget
April 23, 2015
Old Dominion University's Board of Visitors voted unanimously today to approve a $582-million University operating budget for 2015-16. The budget includes an appropriation of approximately $8.7 million in new funds from the Commonwealth of Virginia, representing an increase in funding for Old Dominion's general state support.
"Enrollment at Old Dominion University continues to grow. This year, we welcomed students from 49 states as well as the District of Columbia, Puerto Rico, the Virgin Islands and Guam and 119 countries around the world. Our steadfast commitment to providing more than 20,000 Virginians with a quality education - that is accessible - remains strong," said Old Dominion President John R. Broderick.
Tuition and student activity fees for 2015-16 Virginia residents were set for $9,480, an increase of $255 per semester or $510 per year from last year.
Broderick added, "We are grateful to Governor McAuliffe and the General Assembly for their support. The state's support as well as targeted reallocations of $1.2 million in existing resources in our budget allowed us to keep tuition increases to a minimum."
Chief Operating Officer David F. Harnage said this year's budget funds areas key to maintaining Old Dominion's academic quality and supporting student success, including hiring of student advisors, faculty, and police officers; modest salary adjustments; capital improvements; need-based financial aid for students; and the implementation of the University's 2014-19 Strategic Plan goals.
The University's budget also includes funding for major research areas and programs that support Virginia's priorities, such as bioelectrics.
"The University and the state's continued investment in Old Dominion will help us grow our $2.1 billion annual economic impact in the Hampton Roads region and beyond. ODU's initiatives not only solve local and national challenges, such as sea level rise, but they also tie into regional research strengths - the federal labs, the Port of Virginia, military, Chesapeake Bay and healthcare, and more - promoting job creation and retention." said Broderick.
A detailed listing of the 2015-16 budget can be found on the Operating Budget and Plans website.
To learn more about recent tuition and fee trends at Old Dominion, follow this link.
To read about the banner academic year Old Dominion is experiencing in terms of student enrollment and retention, visit this link.