The Wake Forest University Board of Trustees on April 28 approved a total operating budget of $584 million for the 2000-2001 fiscal year, beginning July 1.
During its April 27-28 meeting on the university’s Reynolda Campus, the board also elected trustees and its 2000-2001 officers.
The new budget includes $384 million for the Bowman Gray Campus, site of the Wake Forest School of Medicine. Another $200 million will fund the Reynolda Campus, home of the undergraduate College, the Graduate School, the School of Law, the Babcock Graduate School of Management, and the Divinity School. Budgets for the Bowman Gray and Reynolda campuses rose by 11 percent and 4 percent, respectively.
Operating expenses for all Reynolda Campus departments will remain flat, as has been the case in recent years.
Salaries and fringe benefits, as well as financial aid, account for more than 65 percent of the Reynolda Campus unrestricted budget.
The financial aid budget for the Reynolda Campus will increase by $2.5 million from $30.5 million to $33 million.
Full-time undergraduate tuition will increase 4.6 percent in the fall to $22,410. The new tuition calls for incorporating an existing fee of $31.50 for computer insurance and providing two new services. A combination microwave oven and refrigerator will be placed in students’ residence hall rooms and each resident will be provided with access to laundry facilities at no cost.
The following were elected as first-time members of the board: Graham W. Denton Jr. of Charlotte, executive vice president and commercial finance executive of Bank of America; G. Kennedy Thompson of Charlotte, president and chief executive officer of First Union Corporation; Sandra R. Kahle of Vero Beach, Fla., founder and director of Maitland Farm Preschool; and Theodore R. Meredith of Vero Beach, Fla., and Santa Fe, N.M., a businessman.
The following current members were re-elected to the board: Libba C. Evans of Winston-Salem, a businesswoman; Murray C. Greason Jr. of Winston-Salem, an attorney with Womble Carlyle Sandridge & Rice; and John G. Medlin Jr. of Winston-Salem, chairman emeritus of Wachovia Corp.
Former members re-elected to the board were: James L. Becton of Augusta, Ga., a physician; Michael G. Queen of Wilmington, pastor of First Baptist Church in Wilmington; and A. Doyle Early Jr. of High Point, an attorney with Wyatt Early Harris & Wheeler.
Elected as life trustees were: James E. Johnson Jr. of Charlotte, an attorney with Womble Caryle Sandridge & Rice; Lonnie B. Williams of Wilmington, an attorney with Marshall, Williams & Gorham; and J. Tylee Wilson of Ponte Vedra Beach, Fla., a businessman.
Jonathan Lee Kelly, a sophomore from Greensboro, was elected a student trustee.
Hubert B. Humphrey of Greensboro was re-elected board chairman. He is an attorney with Brooks, Pierce, McLendon, Humphrey & Leonard. Two vice chairs were re-elected: Murray C. Greason of Winston-Salem and Adelaide A. Sink of Tampa, Fla., president of NationsBank Florida.