WKU’s Board of Regents today (June 24) passed a $402 million budget for 2016-17.
WKU President Gary A. Ransdell said the budget presented “significant revenue challenges,” but the University was able to meet several goals, including a 3 percent salary increase over 12 months and minimal impact on campus employment.
“Throughout the budget process, we focused on maintaining and enhancing the quality of the learning environment for our students while not compromising safety, essential maintenance or our core strengths,” Dr. Ransdell said.
Ann Mead, Senior Vice President for Financial Affairs, said WKU had to incorporate a 4.5 percent decrease in state funding ($3.36 million), fixed cost increases (including an increase in employer contribution to Kentucky Employee Retirement System) and less-than-projected tuition income.
A balanced budget was achieved through internal reallocations; moving about 200 Facilities Management employees from WKU to SODEXO, which oversees facilities and maintenance; eliminating about 60 unfilled budgeted positions and a 4.5 percent ($215) per semester tuition increase for resident undergraduate students.
Tuition and fees make up 50.9 percent of the budget. Undergraduate resident tuition will be $4,956 per semester beginning with the fall 2016 semester.
State appropriations, including nearly $5 million for the Gatton Academy for Mathematics and Science and $750,000 for the statewide weather monitoring network the Kentucky Mesonet, make up 17.9 percent. Restricted funds (grants and contracts and student financial aid), self-generated funds and auxiliary enterprises make up the rest of the budget.
Contact: Ann Mead, (270) 745-2434.