Missouri State University Board of Governors approves 2012-13 budget
The Missouri State University operating budget approved today (June 22) by the Board of Governors will have to be amended in the fall.
That’s because the conservative budget was based on a 7.78 percent reduction in state appropriations. Today, however, Governor Jay Nixon signed the higher education budget with only a 1 percent reduction. That means approximately $5.2 million more than expected in state appropriations will be available to Missouri State in Fiscal Year 2013, which begins July 1. Missouri State’s state appropriation for Fiscal Year 2013 will be about $78.5 million, about $800,000 less than the current year appropriation of $79.3 million.
“Obviously, this is very good news,” said Missouri State Interim President Clifton M. Smart III. “We went from an initial budget recommendation that included a 12.5 percent reduction – about $10 million – to a 1 percent reduction, which is about $800,000.
“As a result, the Executive Budget Committee and I will take a fresh look at our budget this fall. Our budget was based on achieving fall 2010 enrollment. So if we are successful in that effort, we will have the opportunity to invest in some strategic areas, beginning with taking a look at some kind of mid-year salary increase for our employees.
“I want to thank the Missouri General Assembly for passing a flat budget and also the Governor for maintaining as much of that funding as he could. In the long run, it is our students and the State of Missouri that benefit from a strong higher education system.”
Missouri State’s total budget will be about $250 million, with about $10 million spent on behalf of Missouri State-West Plains.
The university will provide approximately $25 million in scholarships during the year.
In March, the Board approved a 3 percent increase in student fees and 4 percent average increase in room and board charges. The cost to attend Missouri State remains below the national average and in the lower half of Missouri’s public four-year schools.
Note to media: The budget is available online at http://www.missouristate.edu/financialoutlook
About Missouri State University
Missouri State University is a public, comprehensive university system with a mission in public affairs, whose purpose is to develop educated persons while guided by three overarching and enduring commitments to student learning, inclusive excellence and institutional impact. The university’s identity is distinguished by its statewide mission in public affairs, which entails a campus-wide commitment to foster competence and responsibility in ethical leadership, cultural competence and community engagement.
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