AUSTIN (January 29, 2013)--University of Texas President Bill Powers released a new report Tuesday that suggests ways the school could generate $490 million in savings and revenue over the next decade.

Among the recommendations presented Tuesday was an increase in room-and-board fees for students who already are facing mounting tuition costs.

The report says the university also could save money by streamlining business costs and doing a better job commercializing its research and technology.

The report was prepared for the university by a group of business leaders.

Powers endorsed the goal of saving money, but said the school will be cautious about changes that could increase student expenses.

Texas lawmakers slashed nearly $1 billion from higher education in 2011 and schools are under pressure from Gov. Rick Perry to rein in tuition rates.