At this week’s Board of Governors meeting, I will present the Executive Budget Committee’s FY2022 budget recommendations to the board.
These recommendations include $7.5 million in benefit and compensation increases.
Among these increases is a 3% across-the-board compensation increase.
If approved by the board, this increase will go into effect:
- On July 1 for all full-time, 12-month employees.
- On Aug. 1 for all full-time, 9-month employees.
Only employees who are full-time on or before May 31, 2021 will receive the increase.
Compensation is important. With this in mind, the board and I have worked to provide cost-of-living salary increases throughout my presidency.
Unfortunately, the uncertainty surrounding the pandemic made it impossible to provide a cost-of-living pay increase last July.
The 3% pay increase recommended by the Executive Budget Committee, combined with the $600 across-the-board increase that went into effect earlier this year, recognizes the increased living costs our employees have faced since we were last able to budget a cost-of-living pay increase in July 2019.
Funding priorities for the committee
The Executive Budget Committee’s recommendations also include:
- Enhanced dental plan benefits for employees (a Faculty Senate and Staff Senate priority for this year).
- Salary range adjustments.
- A minimum wage increase.
- Salary increases under the professor salary incentive program.
- Faculty promotions.
At the request of many members of the Executive Budget Committee, the recommendations will also restore a substantial portion of travel budgets throughout the university and unfreeze many of the currently frozen faculty and staff positions.
The Executive Budget Committee also recommended increases for several university programs, services and initiatives, including:
- $65,000 for LinkedIn Learning.
- More than $300,000 in technology upgrades.
- $120,000 in additional student recruitment travel costs.
- $300,000 in diversity and inclusion initiatives.
Board will vote in June
I will present these recommendations for discussion at the Board of Governors Finance and Facilities Committee meeting May 12.
The Board will vote on the FY2022 budget at its June meeting.
Thanks for all you do for Missouri State!