Hanover — The Dartmouth College Board of Trustees last weekend approved a 2.9 percent tuition increase and an operating budget of $999 million.

At an extra $81 million over the budget for the fiscal year ending in 2017, this operating budget represents the school’s largest increase in at least a decade.

Undergraduate tuition for the 2017-18 academic year will be $51,468. Together with room, board and mandatory fees, the figure rises to $68,109.

“The increase is consistent with the 2014 rate, which was the lowest percentage increase in tuition since 1977 and reflects (Dartmouth President Phil) Hanlon’s strategy to slow the growth of the cost of a Dartmouth education,” trustees said in a Monday news release.

The new tuition rate applies to undergraduates, to students in the School of Graduate and Advanced Studies and to those at the Thayer School of Engineering. Tuition for the Tuck School of Business will increase 3.8 percent, to $68,910, and tuition for the Geisel School of Medicine will increase 3 percent to $61,247, according to the release.

Dartmouth’s trustees also noted in their release that they had budgeted a “record” $100 million in financial aid for the fiscal year ending in July 2018, a 4.1 percent increase over the $96 million expected during the current fiscal year.

The trustees also approved a 2018 fiscal year operating budget of $999 million and a $230 million withdrawal from the college endowment to fund both operations and other activities.

In comparison to this year’s $81 million increase, operating budgets dating back to at least 2007 increased by no more than roughly $56 million, according to audited financial statements and endowment reports from Dartmouth.

The endowment withdrawal, representing 5 percent of Dartmouth’s savings at the end of the 2016 calendar year, is a 3 percent increase over the previous fiscal year’s draw and will fund 23 percent of the operating budget, according to the release.

The board approved a capital budget of $30 million to fund several renovations to Morton Hall, Reed Hall and Thornton Hall, as well as the abatement and demolition of Gilman Hall. The capital funds also will go toward expansion and renovations to undergraduate housing.

Rob Wolfe can be reached at rwolfe@vnews.com.