Ohio State University Trustees Approve $5.5 Billion Budget

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COLUMBUS, Ohio (AP) – Ohio State University trustees have approved a $5.5 billion annual budget and authorized new construction projects that include a new student-athlete development center and multi-sport arena.

The board, meeting in Columbus on Friday, also lauded President Michael Drake for quickly becoming part of the Ohio State community in his first year and making significant progress on his stated goals.

The new budget is an increase of more than 6 percent over last year’s, while OSU continues to maintain a freeze on in-state undergraduate tuition, room and board, and fees for this academic year.

The board adopted the fiscal-year 2016 capital investment plan, which includes $16 million of spending on new projects. The new 4,000 seat arena will be home to seven varsity sports, including volleyball, gymnastics, fencing and wrestling.