Committee approves revised FY24‑25 budget, Health Science Center tuition increase and capital requests

The University of Tennessee System Finance and Administration Committee voted on several agenda items during its meeting.

Votes at a glance

- Revised FY24‑25 operating budget: The committee voted to recommend board approval of the mid‑year revised operating budget as presented in the meeting materials. Committee members called for the motion, and the voice vote was recorded as "Aye; motion carries." No roll‑call tally was provided in the meeting transcript.

- UT Health Science Center tuition and mandatory fee proposal: The committee approved the Health Science Center's tuition and mandatory fee proposal after staff described a program‑by‑program approach. Presenters said the recommendation would raise in‑state tuition by about 2.1% (and out‑of‑state by about 3.1%), generating roughly $2.1–$2.2 million in gross tuition revenue and about $153,000 in additional mandatory fee revenue. Public comments submitted before the meeting included one positive comment and three expressing concern; the committee moved, seconded and approved the proposal by voice vote.

- State budget amendment request (auxiliary self‑funded capital projects): The committee approved submitting two UT Knoxville parking facility projects to the state budget amendment cycle. Materials describe one facility of about 1,200 spaces and another of about 4,000 spaces; the projects are self‑funded and, if included in the state budget, would enable use of Tennessee State School Bond Authority financing. The committee moved, seconded and approved the request by voice vote.

- Master lease agreement and acquisition negotiation: The committee approved a revised motion to finalize a master lease for an approximately 200,000‑square‑foot office complex near the Knoxville campus and authorized staff to "enter into negotiations to seek to acquire the property as soon as practical" rather than waiting until the university occupies 75% of the building. Committee members said the lease includes a purchase option and that staff will pursue appraisal and environmental reviews before any acquisition. The committee moved, seconded and approved the revised motion by voice vote.

- Consent agenda: The committee approved the consent agenda, which included meeting minutes and the transfer or sale of gifted properties not held for institutional use (one item referenced property in Arizona). The motion carried by voice vote.

Voting notes: The transcript records voice votes and recorded "Aye" for approval on the items above; no roll‑call vote tallies or dissent was provided in the record. Where revenue or capacity figures were discussed (e.g., tuition revenue, project parking spaces), committee presenters supplied the estimates during the staff presentations.

Committee chair Bill Rhodes closed the meeting after approving these items and reviewing informational materials including capital project approvals and endowment performance reports.