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June 28, 2012
The Northwest Missouri State University Board of Regents during its regular meeting Wednesday, June 27, approved the University's FY2012-13 budget, which includes the 2012-2013 Education & General (E&G) Budget and the 2012-2013 Auxiliary Enterprises Budget, totaling $108.9 million.
The total budget includes tuition and fee increases approved by the Board at its March meeting as well as dollars set aside to fund increased utility costs and facility improvements. Additionally, the total budget includes a 2.6 percent cost-of-living adjustment for all employees.
Northwest President Dr. John Jasinski said the budget represents Northwest’s focus on access, affordability, quality and overall student success indicators. Additionally, he said the budget was designed through a collaborative effort across the institution and follows Northwest’s emphasis on continually strengthening its financial position.
“It’s a budget that supports our No. 1 resource – our people – as well as our aging infrastructure,” Jasinski said.
The Board tabled a proposal to increase the salaries of employees whose compensation falls below 90 percent of the national average as established by the College and University Professional Association for Human Resources. Jasinski emphasized to the Board the importance of employing and retaining quality personnel at a competitive market-based salary.
Per Board bylaws, the Board also elected new leadership, with Dr. Mark Hargens, of St. Joseph, and Joseph Bosse, of St. Louis, being elected chair and vice chair, respectively. The Board also appointed Lynne Gilbert as Board secretary.
In other business, the Board approved the refunding of the University’s housing system revenue bond, which is expected to save Northwest more than $4 million over the life of the bond debt. Also, Mitzi Craft was approved as Northwest’s Vice President of University Relations; she had been serving as the interim vice president.
The Board of Regents is responsible for sound resource management of the University and determining general, educational and financial policies.
Mark Hornickel, Media Relations Specialist
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Northwest Missouri State University
215 Administration Building | 800 University Drive | Maryville, MO 64468