Regents Approve $83.4 Million Operating Budget, Auxiliary Operating Budgets for FY2006



May 25, 2005 – The Southeast Missouri State University Board of Regents today approved an $83.4 million operating budget for the University and $25.6 million in auxiliary operating budgets, both for fiscal year 2006, the year which begins July 1.

Dr. Ivy Locke, vice president for business and finance, said the new $83.4 million operating budget includes funding for current operations along with allocations for expansion of scholarship programs, mobile museum outreach and River Campus Performance Hall programming; increases in utility costs and to base funding for library periodicals; one-time funding for technology projects; expansion of the campus recycling program; restructuring of employee medical reimbursement accounts as cafeteria plans; and performance based merit increases for faculty and staff.

Earlier this month, she said, the state legislature approved the University’s fiscal 2006 appropriation at the same level as last year. Therefore, she said, additional expenses at the University in the coming fiscal year will need to be funded by increased fees, increased revenues and reallocation of expenses.

The budget approved by the Regents today includes estimated income of $42.5 million in state appropriations after a three percent withholding for the Governor’s executive reserve. Income from state appropriations accounts for 51 percent of the University’s total operating budget.

 In addition, the University fiscal 2006 budget includes estimated income of $38.8 million in student fees and $2.1 million from other sources. Income from student fees accounts for 46.4 percent, and income from other sources for 2.6 percent of the University’s total operating budget, Locke said.

The University’s 28-member Budget Review Committee presented the fiscal 2006 budget to Kenneth W. Dobbins, president of Southeast Missouri State University, for approval. The fiscal 2005 budget had a deficit of $749,626, which was funded by one-time savings for which base funding was obtained in fiscal 2006 through the implementation of decisions made during the recent comprehensive review of all University programs.

In formulating the fiscal 2006 operating budget, the Budget Review Committee considered several factors, Locke said, including fiscal 2006 state funding projections; information technology updates; Student Government and Academic Affairs program enhancement requests; faculty and staff compensation committee reports; requests from the Budget Review Committee’s Benefits Subcommittee; fall 2005 enrollment projections; special course fee proposals; and regional comparisons of incidental fee rates.

Locke said Southeast’s 28-member Budget Review Committee deliberated strategies to formulate a fiscal 2006 operating budget. “We discussed ways to balance affordability while maintaining the quality of academic programs by retaining quality faculty and staff, as well as keeping current with technology both in academic and administrative areas, which serve our students,” she said.

In related action, the Regents approved the fiscal 2006 operating budgets for the University’s “auxiliary” units, totaling $25.6 million. These self-supporting operations, which do not receive state appropriations, include campus housing, Southeast Bookstore, the Show Me Center, University Center, Telecommunications and the Student Recreation Center.