(From Southern News Service)
The Board of Governors at Missouri Southern State University approved a budget of $77.1 million for the Fiscal Year 2015 during a meeting held Monday, June 2.
Financial aid and scholarship expenses account for $16.2 million of that total, resulting in a net operating expense budget of $60.9 million.
Compensation and benefits represent 67 percent of the operating budget. That includes a 1.5 percent across-the-board salary increase for university employees.
State appropriations for the upcoming school year are expected to increase by an estimated 5 percent, which equates to approximately 31 percent of the budgeted revenue. While the overall percentage of Missouri Southern’s budget covered by state appropriations has been on the decline, board members have reaffirmed their commitment to affordable and attractive tuition rates.
In February, the board approved a hold on the current tuition rates for in-state and Lion Pride tuition (in-state tuition for residents of Kansas, Oklahoma, Arkansas and parts of Illinois). The current tuition rate is $173.20 per credit hour for in-state students.
“Missouri Southern remains committed to providing our students excellent value when it comes to continuing their education,” said Dr. Alan Marble, interim president.
In other business, an election of board officers was held. James Fleischaker will serve as board chair, and Glenn M. (Mitch) McCumber as vice chair. Linda Eis and Sharon Odem will continue to serve as treasurer and board secretary, respectively.
No comments:
Post a Comment