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VMI board hears early FY27 budget picture: state funds, tuition modeling and legislative asks
Summary
Administration provided an early look at fiscal year 2027 resources and drivers: projected state support of about $33.4 million (governor's introduced budget baseline), private fundraising projections, a modeled 3% tuition increase and items to watch such as rising health-insurance and utility costs.
The board received a fiscal-year 2027 preview that framed the financial context for the strategic plan and enrollment targets.
The finance presenter said the current projection based on the governor's introduced budget shows roughly $33.4 million in state funds, with private fundraising and athletic revenue contributing materially to the operating picture. The presentation modeled a 3% tuition increase (described as a $3.12 increase to in-state tuition) and a combined tuition-and-fee net increase projected near 2.9% overall.
Administrators warned of significant headwinds: health-insurance costs rose materially in the presenter's estimate and utilities and contractual spending are increasing. The budget preview included three legislative requests to Richmond: CLEA phase 2, mission-ready facilities and a "forging fit leaders" initiative proposed for unique military activities funding.
Board members were told the board would see a formal proposal in April after the General Assembly concludes work and the administration incorporates final legislative outcomes.
