CAPE GIRARDEAU, Mo. (KFVS) - Southeast Missouri State University will have more money to work with this fiscal year.
The Board of Regents have set the budget for fiscal year 2020 at $123.3 million. Last year’s (FY 2019) figure was $121.8 million.
The budget includes tuition and fee rates approved by the Board in May, expense reductions, revenue increases and an employee merit salary increase of one-percent or $700, whichever is greater, for FY 2020.
The operating budget includes an estimated $43.5 million in state appropriations; $73.6 million in tuition and student fees and $6.3 million in other sources.
The Regents also approved new operating budgets for the university’s auxiliary units including residence life, textbook services, the Show Me Center, parking and transit and the National Public Radio station.
The total auxiliary budget is $35.5 million, which is less money than last year’s numbers. Last year’s auxiliary budget (FY 2019) was $37.5 million.
To meet the budget, the university also has committed to $1.01 million in expense reductions.
Earlier this year, Gov. Mike Parson signed a budget that gives state colleges and universities more in funding.
The Fiscal Year 2020 begins on July 1, 2019.