LINCOLN - The University of Nebraska Board of Regents approved a $1 billion operating budget for 2022-23 on Thursday that holds tuition flat for the second straight academic year.

Reflecting a 1.3% increase in spending over the previous year — a $12.8 million bump — NU President Ted Carter said the budget also makes investments in several areas prioritized by the university.

“We stuck to a plan we built two years ago shortly before COVID hit, a plan that called for conservative fiscal planning so we can focus our resources on the areas that have the biggest impact like student affordability, faculty competitiveness, and other strategic priorities,” Carter told regents.

The Nebraska Promise program, which allows students to attend an NU campus tuition-free, has increased the annual household income qualification from $60,000 to $65,000 under the new budget plan.

Additionally, $10 million more will be injected into the salary pool for faculty at the University of Nebraska-Lincoln and the University of Nebraska Medical Center, covers an expected increase in health insurance premiums, and pays for core operations in new programs previously approved by the board.

“And we are doing it without passing these costs on to our students,” Carter said.

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