Regents Approve $91.2 Million Operating Budget, Auxiliary Operating Budgets for FY2008



June 18, 2007 – The Southeast Missouri State University Board of Regents today approved a $91.2 million operating budget for the University and $27.6 million in auxiliary operating budgets, both for fiscal year 2008, which begins July 1.

Kathy Mangels, vice president for business and finance, said the new $91.2 million operating budget includes administrative commitments, such as increases in employee medical insurance, minimum wage increases and utilities; program enhancements, including base funding for Student Government printing of the student handbook, base and one-time funding for printing of the University Magazine, and base and one-time funding for expanded admissions efforts; and compensation packages designed to address equity pay issues and make faculty and staff salaries competitive with state and peer institutions.

The budget approved by the Regents today includes estimated income of $45.2 million in state appropriations after a three percent withholding for the Governor’s executive reserve. Anticipated income from state appropriations accounts for 49.5 percent of the University’s total operation budget.

In addition, the University’s fiscal 2008 budget includes estimated income of $43.7 million in student fees and $2.2 million from other sources. Income from student fees accounts for 48 percent, and income from other sources for 2.5 percent of the University’s total operating budget, Mangels said.

The University’s 28-member Budget Review Committee presented the fiscal 2008 budget to Kenneth W. Dobbins, president of Southeast Missouri State University, for approval. The committee represents all major interest groups on campus. The committee met during the spring semester, Mangels said, to review current operating revenues and expenditures, evaluate proposed program enhancements and formulate the fiscal 2008 operation budget. The committee considered recommended increases in state appropriations, the cost of continuing institutional commitments and operating expenditures, program enhancement requests, faculty and staff compensation committee reports and fall 2007 enrollment projections.

In related action, the Regents approved the fiscal 2008 operating budgets for the University’s “auxiliary” units, totaling $27.6 million. These self-supporting operations, which do not receive state appropriations, include Southeast Bookstore, the Show Me Center, University Center, Telecommunications, Residence Life, the Aquatic Center, Southeast Public Radio and the Student Recreation Center.