The UM System Board of Curators reviewed its FY 2013 budget Tuesday. According to the meeting, the FY2013 operating budget is more than 3.6 percent higher than the FY2012 level.
The curators also discussed ways to help keep the budget balanced in 2013. This included ways to balance $35.3 million in revenue enhancements and cost savings.
UM System President Tim Wolfe has the final power to approve the budget. The 2013 budget was approved in the meeting.
The 2013 budget included initiatives allowing for $30 million in funding. The funds will be used to help improve faculty, student experiences in the UM System, scholarships and facilities, according to the Board of Curators.