The LSU Board of Supervisors will hold its August meeting today to discuss approval of the LSU System’s $3.5 billion budget proposal.The budget for the 2009-2010 fiscal year includes spending cuts totaling more than $71 million for LSU institutions across the state. These cuts — the outcome of a 19.1 percent reduction in state funding — include 69 layoffs and the elimination of 420 vacant positions, according to a Board news release.Also up for review is capital outlay for the next five years, which includes $661 million in projects like renovations and new construction.Some of the higher-profile projects include a $63 million new residence hall, a $38 million building for the College of Engineering, $36 million in renovations in the east wing of Laville Honors College and $42 million for a new math and lecture hall.Also among the capital outlay needs is $30 million for a new parking facility, which will be built across Highland Road from the Student Union. The new facility will feature a 62,000-square foot bookstore and 750 parking spots for University students, staff, faculty and visitors.Many University buildings are allocated money for renovations in the outline, including Annie Boyd Hall, the French House, Howe-Russell Geoscience Complex, Prescott Hall, Allen Hall, Patrick Taylor Hall and several others.The Board’s meeting will be held today at 1:30 p.m. in the LSU System Building, located at 3810 West Lakeshore Drive.—————Contact Ryan Buxton at [email protected]