Wright State trustees approve budget, tuition increase
The Wright State University Board of Trustees on June 10 approved a budget for fiscal 2012 and a tuition increase.
By a 6-0 vote, the trustees approved an annual operating budget of $301 million. It's part of an overall budget of $442 million, which includes money for restricted use such as research grants and contracts.
The operating budget represents less than a 1 percent increase over that of 2011, even though the university is saddled with increased expenses such as $2.5 million in the cost of health benefits, inflation of $1.25 million, the cost of serving about 1,000 more students, and making up a loss of some state capital funds.
The trustees also approved a 3.5 percent increase for undergraduate tuition, 4.5 percent for graduate tuition, and 5 percent for the Boonshoft School of Medicine, the School of Professional Psychology and the Doctor of Nursing Practice program.
In addition, the trustees approved the 2011 Master Plan, which creates a framework for the university's growth for the foreseeable future.
The first phase includes construction of the Rinzler Student Sports Complex to support campus recreation, a new classroom building, construction of the Neuroscience Academic Research Building, renovations to the Student Union, and the renovation of the Creative Arts Center and Schuster Concert Hall.
Wright State proposes fiscal 2012 budget to trustees
Wright State University proposed a fiscal 2012 budget to its Board of Trustees on May 26 that will help the university weather significant state budget cuts while making investments in growth areas and minimizing increases in tuition.
University employees get budget overview from chief business officer
Wright State's chief business officer has given employees a glimpse of the school's financial picture and an explanation of steps the school has taken to prepare for possible state budget cuts.
I am using my weekly letter to share with you some thoughts on the upcoming state budget process and the challenges before us. I know you are aware that Governor Kasich and our state leaders are faced with a significant hole to fill in balancing our upcoming biennial budget. Read more...
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What is the timeline for the state budget?
Governor John Kasich submitted his proposed budget on March 15. It must first pass the Ohio House of Representatives followed by the Ohio Senate. After both legislative bodies have approved the budget, it will then be forwarded to the Conference Committee for final authorization before moving on to the governor. We should know the state budget numbers by late spring.
When will we know the budget challenges for Wright State?
While Governor Kasich submitted his proposed budget March 15, it will still be awhile before we have a better idea of the possible budget challenges that Wright State will face. Of course, we won't have all of the answers on March 15. It will take some time to sift through the budget, assess the impact, and fully understand the challenges we face.
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