The Texas A&M System Board of Regents are taking up appointments, new ways for institutions to craft their budgets and the creation of a federal funded vaccine facility in the Biocorridor during a meeting beginning today (Thursday).
The Regents are set to meet all day at the Texas A&M Memorial Student Center in their last meeting of the year.
They are set to approve the fiscal year 2015 operating budget guidelines for the 11 public universities and nine state agencies in the system. The review is an annual procedure, but will receive extra attention after a budgeting disagreements in August.
Some Regents, led by Morris Foster, called for a 5 percent budget cut at their last meeting, just days shy of the new fiscal year. The proposal, wich Foster said was aimned at ensuring fiscal responsibility and increasing access to education, was eventually tabled and instead the regents opted to create a ‘debt management plan’ headed by Chancellor John Sharp.
The Regents are expected to take up how to roll those suggestions into the next budgeting cycle, which could result in hundreds of millions of dollars of cuts to Texas institutions.
The Regents are also set to approve the project scope and budget for the Live Virus Vaccine Facility in the Biocorridor. The system will present its plant for the facility, which will anchor the Bio-Corridor and will bring more than $41 billion to the state over 25 year, according to Gov. Rick Perry.
The federal government Biomedical Advanced Research and Development Authority conceived the public/private project. The $91 million facility will be constructed by A&M through a $285.6 million federal contract awarded last summer.