Southeast University Regents approve $111.4M operating budget for 2016 fiscal year

CAPE GIRARDEAU, MO (KFVS) - The Southeast Missouri State University Board of Regents approved on Friday a $111.4 million operating budget and $36.6 million in auxiliary operating budgets, both for fiscal 2016 which begins July 1.

The budget was presented to the Board today after a semester of deliberations by the University's Budget Review Committee.

Budget Review Committee is composed of 30 individuals who represent all major interest groups on campus and is chaired by Vice President for Finance and Administration Kathy Mangels.

She says University President Kenneth W. Dobbins launched BRC in 1991, modeling it after a similar process he was familiar with from his previous employer, Kent State University.

During the spring 2015 semester, the BRC developed and recommended to Dobbins the budget approved today, which includes a 1.43 percent increase in state appropriations for fiscal 2016 equating to a $669,042 increase for Southeast, less a three percent state withholding.

Because Southeast met all five performance funding indicators established with the Missouri Department of Higher Education for the fiscal 2016 appropriation process, Southeast received a 1.19 percent appropriations increase of $556,200. Southeast also received an additional .24 percent or $112,842 in appropriations based on a new funding formula designed to compensate institutions for increased enrollment.

Mangels says Dobbins' work with the Coordinating Board for Higher Education (CBHE), the Council on Public Higher Education (COPHE) and the Governor's Office was instrumental in this new funding formula being implemented.

According to Mangels, the $111.4 million operating budget includes a faculty base merit increase of 1.3125 percent and a 0.1875 percent salary pool to fund post-professorial merit increases, and a 1.3125 percent increase to the overload and part-time faculty compensation levels.

The budget also includes a staff base merit salary increase of 1.5 percent for administrative/professional staff, clerical/technical/service staff, bargaining units and graduate assistant stipends.

Mangels said the BRC considered these increases to not only meet inflationary increases but also maintain the movement the institution has made to bring faculty and staff salaries up to market median in keeping with recommendations from a salary equity study approved by the Board in October 2013.

The budget approved by the Regents includes estimated income of $45.9 million in state appropriations which accounts for 41.2 percent of the University's total operating budget, Mangels said.

The budget also includes estimated income of $62.7 million in student fees, accounting for 56.2 million of Southeast's total operating budget and $2.9 million from other sources, accounting for 2.6 percent of the total budget.

The Regents also approved the fiscal 2016 operating budgets for the University's “auxiliary” units, totaling $36.6 million.

These self-supporting operations include such units as Southeast Textbook Services, the Show Me Center, University Center, Telecommunications, Residence Life, KRCU-FM National Public Radio and the Student Recreation Center.

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