UNM’s regents approve $2.91B budget for the 2018 fiscal year

ALBUQUERQUE, N.M. (AP) – The University of New Mexico’s board of regents has unanimously approved a $2.91 billion budget for the 2018 fiscal year that begins July 1.

The budget approval comes a few weeks after the regents settled on a tuition model for 2017-18.

UNM’s Health Sciences Center accounts for more than $2 billion of the budget.

The center encompasses UNM Hospital, Sandoval Regional Medical Center, the medical group and academic wings like the medical school. UNM’s main campus in Albuquerque is getting nearly $834 million in the new budget.

The university continues to grapple with diminished state funding. Its appropriation will fall by another 1 percent in 2018.