MSSU Board of Governors adopts $84.2 million budget, including tuition hike

(From Southern News Service)

The Board of Governors at Missouri Southern State University adopted an $84.2 million budget for Fiscal Year 2019 during a meeting Thursday, June 14.

Financial aid and scholarship expenses account for $17.9 million, resulting in a net operating expense budget of $66.3 million.

Compensation and benefits total $42.1 million, representing 63 percent of the net operating budget. State appropriations increased by approximately 14 percent, which includes one-time funding and represents approximately 29 percent of the budgeted revenue.

Net tuition and fees represent approximately 35 percent of the budgeted revenue. Tuition reflects the rates approved by the board during the April meeting, as well as the consolidation of common fees such as parking, activity, recreation center, health center and technology.

While noting that there are still several “moving pieces” in regards to the state budget, Missouri Southern President Alan Marble praised efforts by local legislators to promote the importance of funding of higher education and share some of the funding challenges being faced at MSSU.

“Our local delegation went to the wall for Missouri Southern,” he said. “They weren’t just here when we needed them, but they helped change the tone of the (higher-ed funding) conversation in Jefferson City. We’re very grateful.”