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WSU Guardian: Board of Trustees approves new college; gives financial outlook for university

Enrollment & Revenue Chart

Excerpt from the Wright State Guardian

Wright State University’s Board of Trustees met to discuss various topics, such as university finances and union relations, while approving resolutions, including the creation of a new college. 

One of the largest resolutions the board passed at the Dec. 9 meeting was the reorganization and merger of WSU’s graduate school and the undergraduate honors program. 

University Provost Dr. Amy Thompson championed the new school, and the merger combines graduate programs and undergraduate honors programs along with the departments staff, faculty and students. 

According to the Provost, there are currently 2,762 graduate students and 797 undergraduate honors students. Total university enrollment for the fall is 10,798 students, according to the Office of Institutional Research and Effectiveness. 

The Finance, Audit, Governance and Compliance Committee also presented an update on the university’s financial standing. 

According to monthly financial performance reports, sales and service revenue increased by $854,000 this semester due to increased activity on campus post-COVID. However, WSU’s finance team is projecting for FY 2023 revenue to be $11.8 million lower than FY 2022 due to the continuance in decreasing enrollment numbers. 

Additionally, the reports show a $9.4 million savings for the university in compensation, as the university did not fill all vacant positions on campus for the fall. Overall, the university is expecting to use $7.2 million in reserve funds for fiscal year 2023 and has a projection of 182 days cash on hand.