WFU Board of Trustees approves 2003-2004 budget, new academic department

The Wake Forest University Board of Trustees on April 4 approved a total budget of $749 million for the 2003-2004 fiscal year, beginning July 1.

The board also approved making the university’s counselor education program a separate department. Presently, the program is part of the education department.

The new budget includes $511 million for Wake Forest University Health Sciences. Another $238 million will fund the Reynolda Campus, home of the undergraduate College, the Calloway School of Business and Accountancy, the Graduate School, the School of Law, the Babcock Graduate School of Management, and the Divinity School. Budgets for Wake Forest Health Sciences and the Reynolda Campus rose by 1 percent and 5 percent, respectively.

Full-time undergraduate tuition will increase 7 percent in the fall to $26,490. This year, tuition is $24,750. Wake Forest’s current undergraduate tuition is among the lowest of the 46 “most competitive” private institutions listed in Barron’s Profile of American Colleges. Only three institutions on the 2002-2003 list have lower tuition.

Student housing costs will increase 4.7 percent to 10.4 percent, depending on the type of room and residence hall.

Changes in tuition rates have also been approved for Wake Forest’s graduate and professional schools.

Salaries and fringe benefits, as well as financial aid, account for 68 percent of the Reynolda Campus unrestricted budget.

In all, 68 percent of Wake Forest undergraduates receive financial aid. Currently, 32 percent of undergraduates receive need-based financial aid. Of North Carolina undergraduates, 46 percent receive need-based aid. The average award of all aid recipients is $17,717.

The counselor education program officially becomes the department of counseling on July 1. Founded in 1968, the nationally-accredited graduate program has more than 500 alumni. It has two tracks — community counseling and school counseling. Both tracks require two years of full-time study.

It was recognized as the national program of the year in 1999, when it received the Robert Frank Award. The director is Samuel T. Gladding, who is also associate provost of the university and professor of counselor education. Recently, Gladding was elected president of the American Counseling Association for the 2004-2005 academic year. Gladding will serve as chair of the new department.