The LSU System Board of Supervisors unanimously approved the University’s $441 million Operating Budget and a $7.9 million LSU System Flagship and Excellence Fund for the University at its meeting Friday.
Wendy Simoneaux, System CFO, said the money will be used to address more “critical issues” at the University.
Chancellor Michael Martin and Executive Vice Chancellor and Provost Jack Hamilton previously said they asked the System for $9.8 million to fill their budget gap over the summer and the System decided to create the $7.9 million fund to help the University retain its flagship status.
The Board also voted to extend contracts for LSU Athletic Director Joe Alleva, LSU Head Football Coach Les Miles and LSU Head Basketball Coach Trent Johnson. Beth Torina’s contract was also approved as new LSU Head Softball Coach.