The George Washington University Board of Trustees approved the operating and capital budgets Friday during the governing body’s spring meeting. Investments in the implementation of the university’s strategic plan, residence hall renovations, research and academic building improvements are part of the budget.
The more than $890 million operating budget continues to support academic and research programs and student support services and includes graduate and undergraduate financial aid totaling $233 million. The university will continue its popular fixed tuition plan, which locks in an incoming undergraduate student’s tuition for a five-year period. The university also is continuing to make investments as part of its long-term strategic plan, including creating cross-disciplinary institutes, hiring more faculty and improving the infrastructure that supports research.
The capital budget continues the university’s investment in previously approved projects and proposes seven new projects totaling approximately $119 million that deliver enhanced facilities in support of the university mission. The projects include new academic and research spaces in the Science and Engineering Hall and enhancements to existing spaces vacated by programs moving into that building. These spaces will be made available to academic programs in multiple schools.
The capital budget will fund improvements to housing and student life, such as the relocation of the University Counseling Center and Student Health Service to the Marvin Center. The budget also includes nearly $17 million in repair, replacement and renewal projects, including academic and research projects such as upgrades to Ross Hall. In addition, City Hall, Dakota and International House residence halls will be renovated this summer.
New construction and renovations will continue to follow sustainable building practices and support the university’s sustainability initiatives as outlined in its climate, water and ecosystem plans.