Hi 92 / Lo 76
|Volume 68, Issue 1, Monday,
August 26, 2002
FY '03 budget approved by UHS Board of Regents
By Christian Schmidt
The UH System budget for 2003 and a joint venture with the University
of Texas System were approved at this month's Board of Regents
Sunny E. Ohia was approved for the position of dean of the UH College
of Pharmacy. Ohia is a native of Nigeria, and is coming to UH after
"Dr. Ohia will bring additional international scope to our pharmacy
college offerings, as well as a wealth of experience in the interaction
The hiring of Ohia marks a step forward for the UH system.
The budget for Fiscal Year 2003 of $834 million was approved. The budget marks a 3.5 percent increase from last year's budget of $805 million.
"This budget will allow the University of Houston to continue building
upon our successes and move us closer to our Tier I goal of excellence
The board also approved the "Closing the Gap" program. The UH/UT Systems
Alliance for Education Progress will help disadvantaged students
The alliance will improve high school curricula, teacher training and professional development in public schools.
"Pooling resources, working together to build a stronger educational
system will demonstrate to Texans and to people across the country that
The joint endeavor was made in the hope that combining the forces of the two systems will increase positive results.
The board also elected new officers for the 2002-'03 school year. Gene
McDavid, retired president of the Houston Chronicle, will serve as
Morgan Dunn O'Connor will serve as vice chairman, while Michael Cemo will be the board's secretary.
In other Board of Regents news, the Administration and Finance Committee
met Thursday to discuss the UH system endowment fund and
The collapse of the stock market, in particular WorldCom, hurt the UH
endowment significantly in the second fiscal quarter. One board member
Because spending is fixed at 5 percent, the fund actually shrank in
that quarter. Among the areas hit by such poor returns will be student
The rest of the meeting consisted of strategy discussions to grow and
protect the fund led by Cambridge Associates Consultant Bruce Myers.
— with additional reporting from Ray Hafner, senior staff writer
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