The Baylor Board of Regents wrapped up two days of meetings Friday.

They approved a new budget for the next fiscal year, appointed new officers, expressed confidence in the leadership of the university, and sources say, voted on President Sloan's employment.

When last the Regents met they issued directives to the administration regarding finances and relations with faculty.

Thursday and Friday, they heard the fruits of the administration's labor.

The Regents signed off on a $341 million dollar budget for next year. It's a $28.5 million dollar increase over the current operating budget with a 20 percent reduction in operating expenses and 50 percent reduction in capital expenses.

Regents chair Drayton McLane says he's encouraged by what he sees in the early fall enrollment numbers, and the economy.

"We're seeing the buildings that are developing, the economy is getting better, our development is improving, our investments are certainly improving as the economy gets more robust so there are alot of really good things," says McLane.

McLane also said the Board will continue to evaluate the longer term of Vision 2012 given the fact that it's been extended at least three years, and President Sloan's leadership.

McLane says he knows there's still division, but he says the Regents are confident in President Sloan.

McLane says, "Doing bold things certainly excites alot of people but as change happens it causes some difficulties. We certainly understand that and we are sensitive to every group. The students, the faculty, the alumni."

While McLane didn't comment on whether a vote was taken on Sloan's leadership, Regent sources say there was.

Those sources told us that when the Regents met in September the vote to keep Sloan was 31 to 4. Today's vote they say was 18 to 17.

But McLane says he's pleased with what he heard from Sloan about his efforts to heal the division with faculty.

"Regents certainly hear his points of view. There's good discussion about all those and that's how we make great progress at Baylor. We're trying to understand and see what was done and was done well and what can be improved on and that's part of the regent process," he says.

Regents also elected new officers.
Will Davis, an attorney from Austin, was elected board chaiman.
Jim Turner of Dallas was elected vice chairman.