Missouri State University’s budget for the coming year will be about $244 million. The Missouri State Board of Governors today approved the operating budget for fiscal year 2009, which begins July 1 and runs through June 30, 2009.
Total budgeted expenses of $244,201,778 will be financed from anticipated revenues totaling $248,400,008. Of the total budgeted operating expenses for the university, the Missouri State-West Plains campus receives $8,947,330.
The 2008-09 Springfield campus budget includes funding for several new faculty and staff positions; a 4.2 percent increase in the salary pool for university employees; an increase of $1.5 million for student scholarships and financial aid; and increases of more than $2 million in utilities and other fixed costs.
"For the third year, we’ve been able to increase funding for our highest budget priority, which is the university’s people," said Missouri State President Michael T. Nietzel. "We funded a significant increase in salaries so that we could hire, retain and reward excellent faculty and staff members. We provided a substantial boost in university-awarded scholarships to attract excellent students. Finally, we’ve also funded a number of critical new positions, which were strategically selected to help Missouri State meet its goal of developing educated persons."
The new budget includes revenues from a previously announced 4 percent increase in student fees, a 4.4-5.1 percent increase in room and board charges, and expected enrollment growth of 100 additional students. Approximately $40.8 million in scholarships and other financial aid from federal, state and institutional sources will be provided next year to Missouri State students.
Missouri State is budgeted to receive a net of $87,265,095 from the State of Missouri – about $3.5 million more than the university received in fiscal year 2007-08. The state appropriation represents a 4.2 percent increase over last year.
The budget is available online .