The $119.6 million budget passed today includes a five percent increase in tuition and fees for most students.
Beginning with the fall 2016 semester, full-time resident undergraduate students will pay $154 more per semester, undergraduate students who live in the metro counties* of Kentucky and Ohio will pay $283 more, and non-resident undergraduate students will pay $374 more. Tuition for most resident graduate students will go up $160 per semester, with metro graduate students paying $303 more and non-resident graduate students paying $410 more.
Mary Ellen Heuton, vice president for finance and chief financial officer, presented the budget, which includes revenue of nearly $46 million in state funds and approximately $58.5 million from tuition and fees.
She said the state allocation reflects the mid-year budget cut imposed last December but no further reductions. In fact, the university received $554,000 in additional funding to help supplement Public Employees Insurance Agency premiums.
She also noted the budget was balanced with $3.1 million from the university’s reserves, which will be earmarked for strategic priorities, including recruitment.
“We think that we will actually use less than that from our reserves, though, because we’re continuing to pursue cost-savings measures through our Marshall 20/20 process,” she added. “We also are leaving vacant positions open, and are delaying some renovations and equipment purchases.”
Marshall has lost $11.5 million in annual funding from the state since 2013. Heuton and board members noted more state budget shortfalls are expected in fiscal year 2018, which begins Friday.
“It’s going to be a rocky road,” said board member Dale Lowther, outgoing chairman of the Finance, Audit and Facilities Planning Committee. “We have to keep a close eye on our budget this year, because it’s going to be tight next year.”
In his report to the board, President Jerome A. Gilbert expressed appreciation to state leaders, saying, “We’re very grateful to the governor and legislature for preserving our base state allocation for the coming year. They understand the value of higher education and were consistent throughout the budget deliberations about protecting us from further cuts.”
Gilbert outlined the university’s assistance this week with relief efforts in communities affected by last week’s flooding, including collecting and delivering donated supplies through the Department of Athletics and the Women’s Center, and providing medical and counseling services through the Marshall Medical Outreach program. He also reported the university’s retention rate, or the percentage of students who returned to Marshall, is up two percent and research funding is up by at least $6 million over last year.
In other action at today’s meeting, the board approved updated sexual harassment and travel policies, as well as a new public art policy. Members signed off on a new degree bachelor’s degree program in electrical and computer engineering and a list of capital projects for 2017-2022. They also received the investment earnings and financial/budget reports for the nine months that ended March 31.
The new tuition and fee rates will be available at www.marshall.edu/tuition tomorrow.
*Metro tuition/fees apply to students who reside in Gallia, Jackson, Lawrence, Meigs, Pike or Scioto counties in Ohio, and Boyd, Carter, Elliott, Floyd, Greenup, Johnson, Lawrence, Martin and Pike counties in Kentucky.