ST. LOUIS, Mo., June 17, 2016 – The Southeast Missouri State University Board of Regents today completed a two-day meeting/retreat in St. Louis, where the following actions were taken:
- Approved a $114 million operating budget and $37.8 million in auxiliary operating budgets, both for fiscal 2017 which begins July 1. 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.
- Approved faculty and staff base merit increases of 1.5 percent for FY17.
- Approved a $73.7 million biennial capital budget request for FY18 and FY19 to be submitted to the Missouri Department of Higher Education. Priorities focus on campus-wide renovations, including maintenance of the tunnel system, and renovations to the Art Building, Rhodes Hall, Johnson Hall and Pacific Hall.
- Approved a bond resolution authorizing the issuance of System Facilities Revenue Bonds Series 2016C proceeds to be used for advance refunding of the System Facilities Revenue Bonds Series 2011B. The debt service savings from the refunding would reduce the annual expense for the Residence Life auxiliary system and could provide funds for needed capital repairs/improvements within the system.
- Approved a revised FY17 schedule of major capital projects and maintenance and repair items. The schedule calls for:
- Engaging an external consultant to conduct an update to the University’s campus-wide Facilities Master Plan;
- Site improvements to accommodate the relocation of the University’s marching band to the River Campus. Work will begin this summer and be complete for the start of the fall semester; and
- Improvements to Parker Field, including a landscape feature recognizing the history and presence of the National Pan-Hellenic Council organizations on campus, and additional lighting for evening and daytime use.
- Approved a new Bachelor of Science in Geographic Information Science (GIS).
- Approved changing the title on the Specialist in Educational Leadership Development to Teacher Leadership.
- Approved a resolution of honor for outgoing Student Regent Austin Cordell.
In closed session, the Board took the following actions:
- Granted post-professorial merit to 12 faculty members and promoted eight faculty members to the rank of professor and seven to the rank of associate professor with tenure. In addition, 14 faculty members received non-tenure track merit.
- Approved routine faculty and non-faculty personnel item
- Approved a compensation package for Southeast President Carlos Vargas that included a 3 percent base salary increase.
The Board of Regents also participated in a retreat that included the review of a report on accomplishments for the previous academic year, a discussion of focus areas for the upcoming academic year, and a Board self-evaluation.