Budget for 2009-10 set at more than $323 million
July 2, 2009
KALAMAZOO--Acting at its July 2 meeting, the Western Michigan University Board of Trustees approved an estimated general fund-operating budget of more than $323 million for 2009-10. The budget, which is just over $10 million higher than the 2008-09 budget, is balanced and represents a 3 percent increase over the previous year's budget.
The newly approved estimated budget includes $5 million in budget reductions for the coming year that are being implemented across the University, as well as more than $1.7 million in expected one-time stimulus funding.
Major revenue ingredients to the WMU budget include $109.6 million in anticipated state appropriations, which is a decrease of $3.6 million or 3.2 percent, compared to last year's appropriation. The second major ingredient is nearly $205.4 million in expected tuition and required fee income from students both on and off campus. The tuition and fee revenue includes a 5.7 percent increase in on-campus tuition and required fees approved by trustees July 2.
Expense changes include budgeted increases allotted for a number of items, including student financial aid, which will see a nearly $3 million increase. Other areas slated for budget increases include compensation, library acquisitions, academic program support, faculty research support facilities support and maintenance, and utilities.
Media contact: Thom Myers, (269) 387-8400, firstname.lastname@example.org