UK Trustees have approved a budget that is slightly smaller than last year's.
The Trustees gave the okay to a plan to spend $2.6 billion.
There are no raises for employees.
But President Eli Capilouto says he wants to set aside money for some merit pay raises during the 2013-2014 fiscal year.
The new budget also includes an extra $10 million to cover existing scholarships, and to expand some scholarship programs.
Tuition will go up 6% this year.
The new budget kicks in July 1st.