Budgets, future research opportunities, athletics among topics discussed by Board of Visitors | Virginia Tech News
At its full meeting held Tuesday, June 2, in Hitt Hall, the Virginia Tech Board of Visitors approved an affiliation agreement with the newly created Hokie Ventures, a nonprofit corporation that will support the long-term growth and competitiveness of Virginia Tech Athletics through modernized revenue generation, strategic investments, and athletics donor relations.
Hokie Ventures is designed to create greater flexibility and strategic agility as college athletics continues to undergo rapid transformation driven by revenue sharing; name, image and likeness; media rights evolution; and changing governance models nationally.
The board also approved a resolution to proceed with the construction of four new residence halls. This project will add approximately 1,200 new beds near Duck Pond Drive and is scheduled to be completed by the start of the 2028-29 academic year. The action also supports a broader residential renewal strategy, consisting of coordinated renovation projects of Campbell, Slusher, Hoge, and Pritchard halls. The availability of the new beds will provide the necessary swing space during these renovations, without compromising on-campus residential requirements.
During the Academic, Research, and Student Affairs Committee meeting held on Monday, Vice President for Strategic Research Alliances Steven McKnight reported to the board that national security research funding represents a large but highly selective and evolving opportunity for universities, with most investment concentrated in later-stage development traditionally led by industry with only a small share reaching academia.
With a higher-than-average share of defense funding, strong alignment in engineering and technology fields, and established capabilities through entities like its national security and applied research enterprises, Virginia Tech’s opportunity for growth is significant, especially given alignment with national security priorities. McKnight said deepening sponsor relationships, broadening contract access, growing security posture, and expanding industry partnerships will be critical to compete effectively in this increasingly mission-driven environment.
The board approved a $2.5 billion university budget for the 2026-27 fiscal year that runs July 1, 2026, to June 30, 2027, effectively flat from last year’s budget. The Education and General portion of the budget, which includes the University Division and Virginia Cooperative Extension, totals $1.3 billion for the upcoming fiscal year, approximately 3.7 percent above last year’s total.
The approved budget will position the university to implement employee compensation programs consistent with the outcome of the final state budget, expected later this month.
The board also approved the 2026-27 graduate assistant compensation plan that will increase their pay scale by 2 percent and will raise the minimum stipend to $2,866 per month. In addition, graduate assistants will continue to receive tuition remission; the university will increase its academic year stipend supplement to $665, a $100 increase, to help mitigate university assigned costs; and the university will continue to pay 88 percent of the annual premium cost of the basic health insurance plan.
During a joint meeting of the Academic, Research and Student Affairs and Finance and Research Management committees, Executive Vice President and Provost Julie Ross provided board members a report on university Living-Learning Programs. Following her presentation and a conversation among board members, the resolution introduced in April on the impact of the Living-Learning Program on affordability, that would have reallocated all returning living-learning community student beds to first-year and transfer students, was withdrawn.
The board also approved a resolution to close the Department of Religion and Culture effective July 1, 2027. The department’s degree program and graduate certificate program will complete teach-out plans, and one minor program will transfer to the Department of Sociology. The closure follows a universitywide review. Full-time faculty members in the department will relocate to existing departments and schools within the College of Liberal Arts and Human Sciences; no faculty positions will be eliminated.
The board also approved faculty promotion, tenure, and continued appointments for 2026. The complete list is published on the Virginia Tech News website.
In addition, resolutions on eight faculty members receiving new appointments to endowed chairs, professorships, or fellowships and another seven reappointments; nine emerita or emeritus faculty resolutions; and eight faculty research leaves were approved by the board.
Undergraduate student representative Thomas Feely and graduate and professional student representative Katherine “Katie” Drinkwater Gregg will conclude their one-year terms on June 30. Board members thanked them for their service.
Robert Waugh, a senior majoring in aerospace engineering in the College of Engineering and regimental commander for the Corps of Cadets, and Helen Phillips, a Ph.D. candidate in public administration and policy in the College of Liberal Arts and Human Sciences, will serve as undergraduate and graduate/professional student representatives for the 2026-27 academic year.
Virginia Tech’s three employee representatives – Justin Lemkul, associate professor in biochemistry who serves as the faculty representative; Marlena Lester, director of advising for the College of Engineering who serves as the administrative and professional faculty representative; and Amber Hagan, operations coordinator for the Office for Civil Rights Compliance and Prevention Education who serves as the staff representative – will continue in those roles during the next academic year.
The board announced its rector and vice rector for the 2026-27 academic year. Effective July 1, Jim Miller will serve as rector and Nancy Dye will serve as vice rector. Each will serve a one-year term.
Board members also elected to amend their bylaws. The board will eliminate the Governance and Administration Committee and distribute its delegated responsibilities back to the Executive Committee and will assign its other responsibilities to the Buildings and Grounds Committee — resulting in a restructured and renamed Facilities and Administration Committee. In addition, the board will add the chair of the Athletics Committee to the Executive Committee.
The next scheduled meeting of the Virginia Tech Board of Visitors will be held Aug. 24-26 in Blacksburg. More information on the Board of Visitors may be found online.
