by Jamie Mahoney
Staff Writer
The new budget passed on April 30 is the highest in school history.
The budget is set at $95.6 million, an increase of $5.6 million. It has been on the rise steadily for the last couple of years.
University of La Verne is a tuition-driven institution which means most money comes from student tuition. Ninety-four percent of this year’s budget was derived from tuition.
The school’s revenue totals only $92.7 million leaving nearly a $3 million deficit. In order to help cover the deficit the University has decreased maintenance from $700,000 to $400,000.
The projected enrollment at ULV is expected to go up next year, bringing in additional revenue.
Tuition will undergo a 4 percent increase from $20,500 to $21,500.
Also increasing is room and board for students next year but the money is applied to grounds maintenance, compensation for employees, as well as an increase in financial aid.
Although students have to pay more to attend the University the money is reinvested in formal financial aid in the form of scholarships and grants.
