Notes from the May 12, 2006 Regents Meeting

by George Zamora

SOCORRO – The New Mexico Tech Board of Regents has approved a $165 million operating budget for Fiscal Year 2006-2007 at the state-supported research university. The approved budget, which is scheduled to go into effect on July 1, will now be forwarded to the New Mexico Department of Higher Education for its consideration.

New Mexico Tech’s operating budget for the upcoming fiscal year is based on financial projections of almost $75 million in unrestricted fund revenues and more than $90 million in restricted fund revenues at the university.

During its May 12 meeting, the New Mexico Tech Board of Regents also approved a three-year contract for annual financial auditing services, which was awarded to sole bidder Moss Adams LLP. The total value of the contract was $264,207.

In addition, the university’s governing board granted its authorization to a recommendation that New Mexico Tech participate in a statewide Consortium for Higher Education Communications Services (CHECS) project to request funds for a common distance education software package which could be used by most of the state’s colleges and universities.

The Tech Board of Regents also gave its official approval to the university’s five-year facilities plan for fiscal years 2007-2011, which includes a “wish list” of seven major capital projects that will be submitted for funding consideration during upcoming state legislative sessions. Topping the priority list is a $12 million request for infrastructure renovation and expansion at the research university.

Other projects also included in New Mexico Tech’s five-year facilities plan include $15 million for Phase I of a new building for the New Mexico Bureau of Geology, $12 million for an on-campus wellness center, and $12 million for new facility to house the departments of chemistry and materials and metallurgical engineering.

The Tech regents also were informed of several recent expenditures of $100,000 or more that were made with the school’s restricted funds, including the following:

After convening in executive session to consider a pending personnel matter, the New Mexico Tech Board of Regents voted to approve the academic promotion of Ping Lu to the position of professor of materials and metallurgical engineering.

The Tech Board of Regents also conducted a brief meeting on Saturday morning, May 13, to vest New Mexico Tech President Daniel H. López with the authority to confer academic degrees at the university’s commencement, which followed the meeting.