The 小蝌蚪APP continues to protect its academic core, set research records, make enhancements to campus and create new ways to generate revenue on the heels of a decade of state budget cuts to higher education.
More good news: State legislators ended the 2018 regular session and three special sessions with a stable higher education budget for the second consecutive year.
小蝌蚪APP淗ere小蝌蚪APP檚 what that means for us. After years of the most dramatic shift in revenue sources for higher education in Louisiana history, our state funding cuts have been halted 小蝌蚪APP at least for now,小蝌蚪APP Dr. Joseph Savoie, UL Lafayette president, said Wednesday during his annual State of the 小蝌蚪APP address to faculty and staff members. However, stable funding 小蝌蚪APP渄oesn小蝌蚪APP檛 allow for much progress,小蝌蚪APP he said.
The 小蝌蚪APP 小蝌蚪APP渕ust continue to become more self-sufficient to offset reductions and to fund needed improvements,小蝌蚪APP Savoie continued.
In fiscal year 2008-09, the state generated 66 percent of the 小蝌蚪APP小蝌蚪APP檚 operating budget. That amount is now 28 percent.
小蝌蚪APP淭his year, state appropriations of $51.8 million will only comprise 15 and a half percent of our total revenue,小蝌蚪APP Savoie said.
The 小蝌蚪APP has generated revenue through philanthropy, sponsorships and multimedia sales, research funding and patents, and auxiliary business activities to make up for the decrease in state funding.
Private gifts over the last year totaled more than $20 million, for example.
Research funding is another bright spot.
The 小蝌蚪APP surpassed $100 million in research and development expenditures during the fiscal year that ended June 30, 2017. It was the first time it crossed that funding threshold. The $100 million in research and development expenditures places UL Lafayette among the top 25 percent of U.S. colleges and universities.
The milestone was reached on the strength of grants such as a $9.7 million award by the U.S. Department of Energy to establish the Tuscaloosa Marine Shale Laboratory at UL Lafayette. The multidisciplinary consortium is composed of geologists, petroleum engineers, geophysicists and economic development experts from UL Lafayette and other institutions. Research will focus on how to extract oil and gas from the massive geological formation that covers 28 parishes in central and south Louisiana, and several southwestern Mississippi counties.
The 小蝌蚪APP continues to attract academically-gifted students. It implemented tougher academic standards in 2012.
Legislators fully funded the Taylor Opportunity Program for Students this year, although awards are capped at 2016-2017 tuition levels for each state university.
Enrollment numbers are still being finalized. However, Savoie said that the almost 3,000-member, first-time freshman class includes roughly 125 high school valedictorians. This class is expected to top a cumulative 3.4 GPA, which would set a record for an incoming class. It may also set a new composite ACT score record, just above 24.
小蝌蚪APP淭his is the most academically prepared class in the history of the 小蝌蚪APP,小蝌蚪APP Savoie said.
The 小蝌蚪APP小蝌蚪APP檚 freshman and sophomore retention rate 小蝌蚪APP the percentage of students who enroll the next academic year 小蝌蚪APP has remained steady at 75 percent.
Online enrollment has increased by 329 percent in the last four years, with 74 percent of the 小蝌蚪APP小蝌蚪APP檚 more than 19,000 students taking at least one online course. 小蝌蚪APP淭his is not a phase we are going through. This is a new reality,小蝌蚪APP Savoie said.
Savoie said a key component of attracting and retaining students is providing a 小蝌蚪APP渜uality living and learning environment.小蝌蚪APP
The 小蝌蚪APP has continued to invest in buildings and facilities through a self-funded capital outlay program created for campus improvements. Recent projects include renovations to McLaurin, Oliver, Stokes, Bittle and Guillory halls.
Construction recently began on 小蝌蚪APP淭he Heritage at Cajun Village小蝌蚪APP 小蝌蚪APP apartments for sophomores, juniors, seniors, and graduate students.
The complex will include five buildings with 591 beds on 12 acres at the corner of Johnston and East Lewis streets. One of the buildings that will front that intersection will have 4,883 square feet of retail space on its first floor, with apartments on the second and third floors.
The project will be funded with bonds that will be repaid with income generated through rent for the apartments and the retail space.
Work continues on Cypress Lake Plaza, which consists of improvements around Cypress Lake and the Student Union. The project is funded with self-assessed student fees.
The Maraist Financial Services Lab will be dedicated on Tuesday, Aug. 28. Using the latest technology, it will enable students to acquire hands-on experience in portfolio management, financial strategy and analysis. It will also provide data resources and statistical tools to enrich research opportunities.
Inside the lab, tickers will deliver up-to-the-second reports from Wall Street. Digital displays will flash breaking business news headlines. Students will learn, in real time, how financial markets work by utilizing state-of-the-art equipment to undertake projects similar to those that business professionals handle every day.
The Kathleen Babineaux Blanco Public Policy Center is being planned. It will house Blanco小蝌蚪APP檚 gubernatorial papers. It also will contribute interdisciplinary, independent research in several public policy areas Blanco championed, including criminal justice reform, poverty and economic opportunity, governmental ethics, and education.
小蝌蚪APP淎mazing things are happening on our campus every day,小蝌蚪APP Savoie said.
小蝌蚪APP淟ives and futures are being enhanced.小蝌蚪APP