More university funding comes in
Appropriated funds continue to trickle in from the state.
Two additional receipts have brought the total received to a little more than $27 million of the $50.6 million total appropriation with just three months to go in fiscal year 2010.
“Cash flow right now is the single biggest problem we have,” said Paul McCann, treasurer and director of business services. “It’s not the same as not having enough money.”
The university continues to closely monitor spending in order to meet payroll. McCann said the university has approached the situation by re-evaluating every purchase before it is made.
“We all learn something, then maybe the cost becomes less acceptable or more acceptable,” McCann said. “Just because we’ve always done it, we’ve got to think twice now about doing it.”
The state has not passed a budget for fiscal year 2011, but the university expects a cut of about $3 million. An approximate 6 percent tuition increase for incoming students was approved at Monday’s Board of Trustees meeting to help combat this cut.
The increase of $15 per credit hour will bring annual tuition to $7,620 for full-time students.
President Bill Perry said the university’s goal was to remain affordable despite the rough economic environment.
“We take the affordability issue very seriously,” Perry said. “We realized this year that we can achieve more savings.”
Sarah Ruholl can be reached at 581-7942
