Budgets, future research opportunities, athletics among topics discussed by Board of Visitors
Virginia Tech News • • sports
Key Points:
- Virginia Tech Board of Visitors approved an affiliation with Hokie Ventures, a nonprofit aimed at enhancing athletics revenue, investments, and donor relations amid evolving college sports dynamics.
- The board greenlit construction of four new residence halls adding 1,200 beds by the 2028-29 academic year to support residential renewal projects and provide temporary housing during renovations.
- A $2.5 billion budget for fiscal year 2026-27 was approved, with a 3.7% increase in the Education and General portion, including a 2% pay raise for graduate assistants and enhanced stipend and health insurance benefits.
- The Department of Religion and Culture will close by July 1, 2027, with programs phased out and faculty reassigned, following a universitywide review.
- Leadership changes include new student representatives, continuation of employee representatives, and election of Jim Miller as rector and Nancy Dye as vice rector for 2026-27; the board also restructured committees, eliminating the Governance and Administration Committee.