MSU approves budget, biomedical center

Budgeted expenses total $208.3 million, while operating and net nonoperating revenues are budgeted at $209.8 million.

The budget includes a 3 percent salary increase pool, a 1 percent step pool for classified employees, increases in utilities and other fixed costs and scholarships and fellowships. The budget also includes revenues from a 5.5 percent increase in student fees and a 4 percent increase in room and board charges.

State funding is expected to total $79.4 million – more than was received last year but about $5.2 million less than the height of state funding in FY 2000-01.

Also at its meeting, the board approved the creation of a new Center for Biomedical and Life Sciences.

“The establishment of CBLS provides a mechanism for us to collaborate with biomedical industries on research that will lead to novel products and new drug therapies,” said Paul Durham, who will serve as director of the center, in a news release. “This endeavor will allow students to work side-by-side with leading scientists, and it will create new biotech and biomedical jobs not found in the Springfield area.”

The center will be located in downtown Springfield in the Jordan Valley Innovation Center, currently under construction.[[In-content Ad]]