SMSU sets $246 mil budget

The budgeted expenses are up 3.3 percent and will be funded from $249 million in projected revenues. With Missouri’s revenue pinch, state funding levels remain at $77.9 million – or $6.8 million less than the university received in 2000–2001.

“SMSU has become very adept at doing more with less,” said Greg Burris, vice president for administration and finance, in a news release. “Even with the current state funding reality, we have managed to keep student fees fairly low relative to other comparable institutions in the state.”

The new budget includes revenues from a previously announced 6.5 percent increase in student fees, as well as $1.7 million more revenue from increased room and board charges. Students will provide about $92.5 million in 2005-2006 – $37.6 million more than student fees generated in the 2000-2001 school year.

The university also will give out approximately $33.2 million in scholarships and other financial aid from federal, state and institutional sources.

Most of the $7.88 million increase in spending is going toward faculty and staff salaries and benefits. A large portion of this increase in personnel costs is due to a required 18 percent increase in the school’s contribution to the Missouri State Employees Retirement System and a 13.5 percent increase in health care premium payments.

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