The Missouri State University Board of Governors passed the university’s system budget Friday (June 22). It includes $287 million of budgeted expenses and transfers and $33 million in student scholarships.
“In a year of decreased state funding, our focus is always to make sure we don’t sacrifice quality or eliminate valuable programs that set us apart,” said Missouri State President Clif Smart. “This budget is in line with that focus.”
State budget picture remains murky
State funding is uncertain for the upcoming year. However, the legislature passed a budget that restores most funding for Missouri State for 2018-19.
Tuition and fees revenue is also uncertain. The university made an agreement with the legislature that ties tuition and fees increases to the amount of funding received from the state.
In light of that uncertainty, MSU’s 2018-19 budget is built on conservative assumptions about anticipated revenue. The university will advocate that Governor Mike Parson sign the state budget that was approved by the House and Senate to begin clearing up that picture.
“I am encouraged by Governor Parson’s stated support for higher education,” Smart said. “He’s advocated for both higher education and our university, especially in recent years. We appreciate that support.”
Employees will get a boost
The board separately approved a plan to spend $1.8 million of university reserves to make a one-time $700 retention payment to all full-time faculty and staff hired on or before Jan. 1, 2018. These payments will be included in their August paychecks.
West Plains
About $11.5 million of the budget is designated for West Plains.
The full budget document is available online.
For more information, contact Steve Foucart at 417-836-4563.