Board of Visitors Approves $528.1 Million Budget for Upcoming School Year
June 14, 2019
Old Dominion University's Board of Visitors voted unanimously Thursday to approve the $528.1 million budget for the 2019-2020 school year.
ODU's budget is a modest 3.4 percent larger than the $510.7 million budgeted in 2018-19, said Deborah L. Swiecinski, an associate vice president in ODU's budget office.
Earlier this year, ODU froze tuition for in-state for undergraduate students. ODU remains the most affordable of the Commonwealth's doctoral universities - including Virginia, Virginia Tech, Virginia Commonwealth, William & Mary and George Mason.
The budget includes $6.5 million for salary increases for ODU employees and $1.4 million in additional scholarship aid for economically disadvantaged students.
It also includes $3.6 million from the state to help ODU attract and graduate more students in STEM-H: sciences, technology, engineering, mathematics and health sciences.
ODU was awarded $370,000 in state money to establish the Virginia Institute for Spaceflight Autonomy.
The budget approved ODU's entry into the new Biomedical Research Consortium along with Eastern Virginia Medical School, the Hampton Roads Community Foundation, the University of Virginia and a non-profit hospital.
The board also approved naming ODU's Board of Real Estate program after Harvey L. Lindsay Jr., whose Norfolk-based Harvey Lindsay Real Estate was founded by and named for his father.
Lindsay has been a generous donor to ODU and other community organizations. He established the Harvey L. Lindsay Jr. Real Estate Scholarship and has endowed other academic and athletic scholarships.
After the meeting, board members took a tour of Kornblau Field at S.B. Ballard Stadium, which is undergoing a $67.5 million renovation. The football stadium will host its first game Aug. 31 when the Monarchs play Norfolk State.
Rector Lisa B. Smith said ODU's fans will appreciate all the improvements at the new Ballard Stadium as well as its updated amenities.
"It's an absolutely amazing facility," she said.
ODU also added three new members to the board. For more information, click here.