The budget was presented to the Board today after deliberations during the spring semester by the University’s Budget Review Committee (BRC), a body of 30 individuals representing all major interest groups on campus.
The approved budget includes a 4 percent increase in state appropriations for fiscal 2017 equating to a $1.918 million increase for Southeast. Because Southeast met all five performance funding indicators established with the Missouri Department of Higher Education for the fiscal 2017 appropriation process, Southeast received a 3.67 percent appropriations increase. Southeast also received an additional .58 percent in appropriations based on a funding formula designed to compensate institutions for increased enrollment.
Kathy Mangels, vice president for finance and administration, said the $1.918 million operating budget includes a faculty base merit increase of 1.3125 percent and 0.1875 percent salary pool to fund post-professorial merit increases, and a 1.5 percent increase to the overload and part-time faculty compensation levels. The budget also includes a staff base merit salary increase of 1.5 percent for administrative/professional staff and clerical/technical/service staff.
The budget approved by the Regents today includes estimated income of $47.8 million in state appropriations which accounts for 41.9 percent of the University’s total operating budget, Mangels said. The budget also includes estimated income of $63.2 million in student fees, accounting for 55.5 percent of Southeast’s total operating budget and 2.9 million from other sources, accounting for 2.6 percent of the total budget.
The Regents also approved the fiscal 2017 operating budgets for the University’s “auxiliary” units, totaling $37.8 million. These self-supporting operations include such units as Southeast Textbook Services, the Student Recreation Center, the Show Me Center, the University Center, Telecommunications, Residence Life, Parking and Transit, and KRCU-FM National Public Radio.