Associated Press - May 21, 2010 2:05 PM ET
RICHMOND, Va. (AP) - Virginia Commonwealth University plans to hire 94 professors and expand course sections for the 2010-2011 academic year.
The moves are included in an $829 million budget for the upcoming academic year that VCU's Board of Governors approved Friday.
The budget also includes increased financial aid to help offset tuition increases.
VCU says a loss of state and federal funding will create a $35.5 million budget gap over the next two years. The new budget contains funds to help prepare for the reduction.
President Michael Rao has appointed a task force to look for ways to cut operating costs.