Pitt Campaign Chronicle

The budget committee of the Board of Trustees of the University of Pittsburgh on Thursday approved a fiscal year 2002 budget that calls for a $58 million increase from the fiscal year 2001, reflecting the need to continue recent gains in teaching and research in order to remain competitive.

The proposed budget anticipates revenues of $1.169 billion. The largest increases in expenditures are in faculty and staff compensation and increased student aid. Faculty and staff compensation accounts for an additional $39.7 million in the new budget, reflecting an average of a 4 percent increase in base salaries and benefits, in addition to a projected increase in sponsored research activity

Student aid will increase approximately $6.5 million, from $73.9 million in 2001, to $80.3 million.

"It is vital to the University’s status as one of the finest and most productive universities in the world that we attract, and retain, the most qualified educators, researchers, and students,” said Chancellor Mark A. Nordenberg. “The goal is not simply to remain competitive, but to continuously improve and progress. Pitt must be able to recruit and support the teachers who will inspire and the researchers who will blaze new trails in their fields.

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