LAS CRUCES, N.M. — New Mexico State University's Board of Regents met Monday morning to discuss the university's budget and a possible tuition and fee increase.
The increase can potentially be as high as 4.2 percent and is dependent on the money the university will be receiving from the state.
That amount will be determined after the legislative session has wrapped up and appropriate budget decisions will be made in April.
The priorities will include an increase to faculty salaries to be competitive with what the market is currently paying faculty.
The university also expects to be paying more in healthcare premiums and will have to contribute more to retirement plans for employees.
No final decisions were made on increases in tuition.
The regents will meet again in April with final budget recommendations.
During the meeting regents also heard an update on the presidential search.
Chair Mike Cheney said the appointed search committee is currently reviewing candidate applications.
Following the March 20th submission deadline, the search committee will meet again and recommend five candidates to the board.
The board will then evaluate those finalists and make a decision.
The goal is to name a president in may.