The Board of Governors met last week.
The Finance and Facilities Committee reviewed recommendations from the Executive Budget Committee. We are very fortunate to have new revenue in this year’s budget due to a substantial increase in state appropriations, a modest tuition increase and reallocation of $2.4 million in existing resources.
However, we are anticipating a 2.8% enrollment decline next fall. This will cost the university approximately $4.6 million in lost revenue.
Investing in our employees
The Executive Budget Committee has recommended that the bulk of the revenue remaining after we account for the enrollment decline go toward our employees. Highlights include:
- $4.7 million in compensation increases for employees (including a cost-of-living adjustment, faculty promotions and the full professorship incentive program, and a student minimum wage increase)
- $1.3 million in a mandatory increase in the university’s pension contribution
- $200,000 in increased usage of employee fee waivers
- $400,000 in stipend and fee waiver increases for graduate assistants
- $300,000 in new positions
The compensation increases include a 1.9% across-the-board cost-of-living pay adjustment for employees. If approved by the board in June, this increase will go into effect on July 1.
We also plan to set aside $800,000 in a scholarship and recruitment fund to develop strategies to increase enrollment.
Commendations and awards
During its regular meeting, the board approved this year’s slate of inductees into the Wall of Fame. This year’s inductees are:
- Earle Doman
- Neosha Mackey
- Virginia Mee
- Linda Pettijohn
- Denny Pilant
- Burnie Snodgrass
As in years past, we will have an induction ceremony honoring these individuals during Homecoming week.
The Board also acknowledged this year’s recipients of the Excellence in Public Affairs Award:
- Heather Blades
- Lyle Foster
- Janice Greene
- Carol Miller
- Sheryl Ruff-Hensley
- Katie Stinnett
The board also approved commendations for Tom Dickey (outgoing chair of faculty senate) and Jon Lee (outgoing chair of staff senate) as well as our SGA President Isaiah Villarreal and SGA Vice President Dillon Cordon. Congratulations to all of you on a great year. The university is a better place because of your leadership.
The board concluded its meeting with a discussion of the department of defense and strategic studies (DSS). The program is highly acclaimed for its emphasis on practical application as well as theoretical comprehension. DSS plans to submit a proposal for approval of a professional doctorate degree program to the Missouri Department of Higher Education this summer.
Thanks for all you do for Missouri State!
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