Yes. In a budget of $69.5 million, we will have approximately $3 million (4.3% of the total budget) of additional revenue in next year's budget. This, of course, is after we take out scholarships and grants awarded by Grinnell College. That is, we are not treating these scholarships and grants as an expense. You can find more information about financial aid in Question #2 , Question #3,
Question #4, and Question #5. (Question #5 explains the tuition discount rate.)

Almost $2.0 million of the increased revenue will be used to support the 5.5% increase in salaries for continuing faculty and a 3.5% increase in the staff salary pool.