MEMPHIS - Provost Loren Crabtree has been named the chancellor of the University of Tennessee, Knoxville, and will assume the duties of the vice president for academic affairs of the newly reorganized University of Tennessee System.
At the annual meeting of the UT Board of Trustees, the board took a recommendation from UT President John W. Shumaker and confirmed Crabtree's position with a full vote.
Crabtree said he is excited about this new opportunity to serve the university.
"I am looking forward to providing full-time leadership and quality for the university," he said.
Shumaker said of Crabtree, "He has a high degree of confidence for the faculty and staff at the university."
Crabtree will be paid approximately $250,000 during his first year as chancellor and will face a performance evaluation, as does the president, each year by the board.
Total Budget for the University of Tennessee System $1.223 billion.
Endowment $584.8 million.
Research Budget $200 million (approximation)
Tuition and Fee's for 2003-2004 (additional costs to students)
In-state $312
Out-of-state $1042
In-state $360
Out-of-state $1090
Programs and Services Fee (has not been increased in at least four years)
25 dollar increase per semester = $1.2 billion in revenue for university.
Transportation Fee (added/new)
16 dollar increase per semester = $800,000 in revenue for university.