This week I discuss next year’s budget.

2015-16 budget recommendation includes 1.8 percent compensation increase

The Executive Budget Committee has developed its budget recommendations and presented them to the Board of Governors. I want to highlight the key points from the committee’s recommendations.

The committee is recommending that all full-time faculty and staff receive a 1.8 percent compensation increase effective July 1. This is more than double the applicable rate of inflation which was .8 percent in 2014. If the Board approves the committee’s recommendations, this will be the fourth year in a row that all full-time faculty and staff receive a raise that exceeds inflation.

Budget recommendations

The committee is also recommending that:

• $225,000 be allocated to a staff compensation pool to be used by cost center heads to make merit and/or equity adjustments to staff salaries and wages
• $100,000 be allocated to an instructor equity pool to be used to make equity adjustments to instructor salaries
• $67,300 be allocated to the second year of the Full Professor Incentive Program
• $800,000 be allocated to new faculty positions
• $186,032 be allocated to an inflationary increase for cost center budgets
• $181,791 be allocated for increased maintenance, security, and grounds
• $315,582 be allocated for compliance and support staff positions, the most noteworthy of which will be a dedicated Title IX coordinator
• An additional $25,000 be allocated for the Disability Support Center

I presented these recommendations at last week’s Board of Governors Finance and Facilities Committee meeting. The recommendations were well received, and the Board will vote on the Executive Budget Committee’s recommended budget at the June meeting.

We would not be able to fund pay raises, new positions, and other priorities without new revenue. The largest item of new revenue in this year’s budget recommendations comes from enrollment growth. Our student body continues to grow because of the hard work that all of you do to make Missouri State University an exceptional value for our students.

Thanks for all you do for Missouri State!