Southeast MO State Regents approve $114M budget for FY2017

CAPE GIRARDEAU, MO (KFVS) - The Southeast Missouri State University Board of Regents approved a $114 million operation budget on Thursday, June 16.

The board also approved a $37.8 million in auxiliary operating budgets. Both of those are for fiscal 2017, which begins on July 1.

The budget was presented to the board after deliberations during the spring semester by the university's Budget Review Committee, a body of 30 individuals representing all major interest groups on campus.

The approved budget includes a 4 percent increase in state appropriations for fiscal 2017 equating to a $1.918 million increase for Southeast.

Because Southeast met all five performance funding indicators established with the Missouri Department of Higher Education for the fiscal 2017 appropriation process, Southeast received a 3.67 percent appropriations increase.

They also received an additional .58 percent in appropriations based on a funding formula designed to compensate institutions for increased enrollment.

The approved budget includes estimated income of $47.8 million in state appropriations which account for 41.9 percent of the university's total operating budget, according to Kathy Mangels, vice president for finance and administration.

For more information, you can click here.

Download the KFVS News app: iPhone | Android

Copyright 2016 KFVS. All rights reserved.