Regents Approve 2011-12 Budget
The Eastern Kentucky University Board of Regents, meeting in regular session on Tuesday, June 7, approved a 2011-12 operating budget of $233,408,820, an increase of 6.9 percent over the previous year.
The budget includes a 2 percent across-the-board raise for all full-time and regular part-time employees, the first raise for University employees in three years. The salary increase will not be less than $500 for any full-time employee.
The budget also incorporates a 5 percent tuition increase for undergraduates and graduate students, with certain exceptions. The general increase had been approved earlier. Today, the Board approved resident tuition rates for non-resident military veterans and a $60-per-credit hour rate for EKU Now! students.
EKU’s tuition continues to rank in the middle of the pack among four-year public universities in Kentucky; tuition rates are higher at the University of Kentucky, the University of Louisville, Western Kentucky University and Northern Kentucky University.
The Regents also approved a 5 percent increase in residence hall rates. In April, it approved a 3.75 percent increase in meal plan rates.
Tuition for Model Laboratory School students will rise 1.5 percent for kindergarten students and 1.3 percent for students in grades 1-12. Tuition for nursery students will remain unchanged.
In other business, the Board:
· Approved a Strategic Plan for 2011-15. The Plan details four goals: maximize student success; build and sustain the University’s capacity for excellence; create and maintain an inclusive, equitable and diverse environment; and collaborate with the University’s regional community partners to promote academic achievement, economic development, and quality of life.
· Heard a presentation by Dr. Robert King, president of the Council on Postsecondary Education, entitled “Stronger by Degree: Strategic Agenda for Kentucky Postsecondary and Adult Education.” King’s presentation emphasized four areas of focus: college readiness; student success; research, economic and community development; and efficiency and innovation.
· Learned from Dusty McCoy, chair of the EKU Foundation Board, that the University’s endowment was up approximately $3 million on a year-to-date basis and had reached $48 million. McCoy said overall gifts to the University are up about 30 percent.
EKU President Doug Whitlock said the University remains “optimistic” about its chances of landing a Presidential Debate in 2012. Eastern is one of 12 sites under consideration for three presidential debates and one vice presidential debate, and a decision is expected in November.