Eastern’s Board of Trustees unanimously approved the budget for fiscal year 2025 at their regular June meeting held in the Grand Ballroom on the 20th.

The university has $178,159,100 in total spending money for the next fiscal year (July 1, 2024 to June 30, 2025). The budget saw a 3.1% increase from last year.

Eastern’s spending money comes from two separate pathways: Appropriated funds and non-appropriated revenue.

Appropriated funds refer to monies allocated to the university by the state government through legislative action. These funds often make up a significant amount of university revenue.

• 53% ($95,039,800) of Eastern’s budget is made up of appropriated funds. This pathway consists of five sources:
• 32.7% of the budget ($58,326,200) is from tuition and fees (down 2.5% from 2024)
• 26.6 % ($47,471,100) from state appropriation (up 2% from 2024, granted by the state)
• 6.4% ($11,464,500) from waivers (up 2% from 2024, granted by the state)
• 0.3% ($500,000) from a student achievement grant (from the state)
• 0.1% ($207,000) from miscellaneous funds

One item to note is the $47,471,100 in state appropriation. This money is granted directly from the state of Illinois. The Board originally asked for an 8% increase in state appropriation from 2024, which would equate to $50,263,524. Their request wasn’t fulfilled.

“We asked for 8(%), we received 2(%),” Vice President for Business Affairs, Matt Bierman said. “We asked for 8(%) because we could. Our expectations were never 8(%), we never planned on 8(%).”

Bierman went on to add that he is grateful for the funds received by the state, noting that Illinois is “getting a little tight on revenue as well”.

The remaining 47% of Eastern’s budget is made up of non-appropriated funds. Non-appropriated funds consist of monies generated by the university through its own activities and resources, independent of state legislative allocations. Eastern often has more flexibility with these funds.

Again, 47% ($83,119,300) of Eastern’s budget is from non-appropriated funds. This pathway consists of six sources:

• 13.8 % of the budget ($24,673,000) in grants, federal and otherwise (up 30.5% from 2024, up 14.5% from 2023)
• 12.9% ($22,927,200) from housing and dining services (up 4.3% from 2024)
• 12.6% ($22,427,400) in Student Fees (Down 1.7% from 2024)
• 4.1% ($7,271,400) in sales and services (up 1.8% from 2024)
• 2.2% ($3,986,900) in other income
• 2.1% ($3,833,400) in gifts (does not include money donated from “An Evening with Champions”, which saw Tony Romo, Jimmy Garoppolo, Sean Payton and Mike Shanahan return to Eastern)

An item to note from the non-appropriated revenue is the decrease in student-related funds. Notice a 2.5% decrease in tuition and fees, as well as a 1.7% decrease in student fees.

Dr. Bernie Ranchero, the Board member presenting the 2025 budget, noted the decrease in student revenue during the meeting. He added that the budget should see some restrictions for fiscal year 2025 as a result.

Aside from those spending restraints, the consensus from Eastern’s top brass is that the budget for fiscal year 2025 is adequate.

“I think it’s a fair budget, for (fiscal year 2025),” Bierman said. “I think we’ve got some things that we are trying to do to counteract the demographic shift that is happening. I think we will be as successful as we can, but I do think there are pressures that exist and we’re managing how we need to.”

As for where this money is expected to be spent, here is a rough breakdown:

• 53.3% of the budget ($94,958,000) set aside to pay university employees
• 21.1% of the budget ($37,648,000) set aside to fulfill contracts
• 13.6% of budget ($24,251,600) set aside for award and grant money
• 7.8% of budget ($13,893,100) set aside to pay for utilities
• 1.1% of budget ($2,000,000) set aside for investment purposes

These five categories take up 96.9% of the total 2025 budget. The remaining 3.1% is delegated to various expenses such as travel, insurance and equipment costs.

The Board also unanimously approved three purchases at the June meeting.

A $535,810 purchase was approved for roof replacements at Greek Court. The funds were sourced from insurance claims and will be paid to Top Roofing Inc.

A second purchase was approved for 300 beds from StarRez Incorporated. The beds will cost $4,500.

The final purchase was an increase in the possible spending amount for a contract with printing/direct mail service, Fineline Printing Group. The original contract was not to exceed $350,000. The Board approved a new cap to be put at $450,000.

Now venturing outside of money talk, the Board approved tenure for the incoming chair of the Department of Teaching, Learning, & Foundations. The public information coordinator at Eastern, Josh Reinhart, assured that giving tenure to an incoming faculty member of this kind is standard.

The Board also unanimously approved the moving of some reserved money for projects. The projects are as follows:

• O’Brien Stadium Repairs
• Booth Library Envelope
• An elevator upgrade
• Campus Master Plan
• A water main replacement
• Stream System/Air Compressor
• Baseball Stadium Repairs
• Ninth Street Water Infiltration
• Steam Plant Repairs
• Building Automation System Upgrades

Fifth year softball coach, Tara Archibald, was approved for a four-year contract extension at $95,000 annually.

The Board transferred the farm assets to the EIU foundation. Two parcels of land named Buckler Farms were transferred as the Board reasons the foundation is better equipped to handle the running of the estate.