Elon’s trustees approved the 2006-07 fiscal year budget at a special meeting March 1. The $118.4 million budget includes 31 new faculty and staff positions and major investments in instructional resources and financial aid. The Board determined tuition and health and SGA fees for 2006-2007 will total $20,441 and room and board will be $6,850. Elon’s total cost next year will be more than 6 percent below the current national average for all private four-year colleges and universities.