Latest entries in Latest entries in Live Blog: April 2010 Board of Curators meeting
Follow The Maneater's coverage as the UM system Board of Curators meets at Missouri University of Science and Technology on Thursday and Friday. The board is the governing body of the four-campus university system, which includes MU, UM-Kansas City, UM-St. Louis and Missouri S&T.
April 16, 2010
Board of Curators passes out-of-state, graduate tuition increases
The UM system Board of Curators Finance Committee voted 7 to 1 Friday to raise tuition for out-of-state undergraduate students starting this summer. Curator Doug Russell was absent for the voting and Curator David Wasinger was the only dissenting vote.
The raise will increase tuition across all four UM campuses. At MU and Missouri University of Science and Technology, out-of-state tuition will rise by 5 percent and at UM-Kansas City and UM-St. Louis, out-of-state tuition rates will increase by 2.7 percent.
The proposal passed this morning includes an increase in UM system graduate school tuition rates by 2.7 percent, as well as increases in professional school tuition rates, as decided by each university.
The policy also increased and created new fees for all UM campuses, including higher course enrollment and laboratory fees.
Course fees for the Trulaske College of Business will more than double, increasing from $34.40 to $75 per credit hour. Fees and tuition rates will also climb for the College of Veterinary Medicine, the School of Law and the School of Nursing for MU.
Beginning this summer, the increases are effective for the 2011 fiscal year.
Deaton addresses 2011 budget outlook
Chancellor Brady Deaton spoke to the UM system Board of Curators this morning regarding the state of MU’s budget and financial outlook.
Deaton emphasized transparency and planning in this year’s budget, as well as MU’s long-term budget planning, with projections up to 20 years in the future.
“We engage in a very multiyear planning process,” Deaton said. “We’re proud of the way we look ahead 3 years for our budget and 5 years for enrollment numbers.”
Deaton said an important part of the fiscal year 2011 budget comes from $18 million in funding located to help secure certain pieces of the budget. $9 million in permanent funding was located to offset state revenue losses and another $9 million in one-time funds will offset temporary withholdings.
MU saved approximately $4.6 million in energy conservation on campus this year, Deaton said, and MU is using debt financing to for total renovations of Tate and Switzer halls on campus.
“We will continue to be economical in managing our auxiliaries,” Deaton said.
Through reallocating resources, MU will better fund programs with higher priority and will continue to work toward more efficient processes, the chancellor said. Together with the Shared Services Initiative presented by UM system President Gary Forsee, these allocations are meant to help MU programs become more efficient.
Despite an emphasis on saving money, MU is facing growing enrollment. This growth in collected tuition, Deaton said, will contribute to growing revenues in the future.
Forsee focuses on future of UM system
UM system President Gary Forsee spoke to the UM system Board of Curators this morning regarding improvements being made around the university and at MU.
Forsee addressed issues facing the UM system budget, and said the focus of the system is on access and affordability to undergraduate students.
“We want to keep the door open for students,” Forsee said.
Forsee praised the system for its efforts to maintain graduation and retention rates despite tremendous growth of the four UM universities. With 24 percent growth across all four campuses, Forsee said the universities will have to continue to focus on maintaining such numbers.
Despite budget issues, Forsee said the system would be involved in several projects, including continued funding for Access Missouri and a new advocacy group called Missourians for Higher Education.
“This advocacy group is a state wide initiative that will ensure that Missourians understand the role that higher education plays in the state,” Forsee said.
In addition to these programs, Forsee announced the establishment of a Shared Services Initiative to help streamline UM system processes. Shared services is a customer-focused organizational model, says the Office of the President Web site, designed to consolidate operations in order to reduce inefficiencies and increase customer service.
Forsee announced that MU Chief Information Officer Gary Allen would lead the project with MU Director Business Services Paul Toler as project manager. Allen will retain his duties as CIO while working out of a central UM office, Forsee said, and Toler will begin benchmark duties and determining activities to review.
“My expectation for the board is that this is a journey, and that this will take a number of years,” Forsee said.
Forsee also addressed the work being done collectively at the Missouri Regional Life Sciences Summit, held in Kansas City in March.
In closing, Forsee thanked the curators for their work on tuition and budget adjustments, but focused on the work ahead and the need for economic progress.