TERRE HAUTE, Ind. –
The Indiana State University Board of Trustees approved a new tuition and fees schedule and operating budgets at its meeting Friday.
Tuition for an
in-state full-time undergraduate student will increase 1.65 percent to $4,518 a
semester in 2019-20, a $73 uptick per semester over last year. The cost for the
same student in 2020-21 is $4,593 per semester, a $115 increase that includes a
$40 health and wellness fee proposed by the ISU Student Government Association
(SGA).
The fee for the
Student Rec Center remains unchanged at $100 per semester.
Indiana State University strives to maintain an affordable opportunity for students pursuing a quality higher education experience. In partnership with these efforts, we work very hard to provide the support and services that help keep students on the path to completing an ISU degree. We will continue to limit increases in cost to our students, as much as possible, by way of enhanced efficiencies and strategic fiscal management.”
ISU president Deborah Curtis
Trustees received
public comments at a tuition hearing on June 5. Incoming SGA president Madison
Longyear spoke in support of the proposed health and wellness fee. Last spring,
students voted in favor of a referendum to add a $75 fee, which would be used
to increase mental health services and prevention programming.
A reduced fee of
$40 was approved by the board of trustees, as it was determined after further
analysis that a reduced per-semester fee allows the university to maintain its
commitment to affordability and assist in meeting Sycamores’ health and
wellness needs.
Revenue projected
for the 2019-20 General Fund budget totals $188,946,000, as compared to
$195,300,000 in 2018-19, said Diann McKee, senior vice president of finance and
administration and treasurer for Indiana State. The change in revenue comes
primarily from a general student fee increase for resident and nonresident
students, a decrease in projected tuition revenue and an increase in operating
appropriation.
The state’s net
operating appropriation, inclusive of a student success line item, increased by
$3,085,490 from the 2018-19 level. The 2017 Indiana General Assembly
appropriated a separate allocation of $2,350,000 dedicated to student success
initiatives that was built into the base operating appropriation beginning in
the 2019-20 fiscal year.
Overall, student
tuition represents 51.8 percent of the total general fund revenues, and 43.7
percent comes from state appropriations, including operating and academic debt
service appropriations.
An increase in state support through the Performance Funding Formula, internal budget adjustments and a modest increase in tuition allows the university to continue to provide a quality education for Hoosier students. We are grateful for the continued support by the Indiana General Assembly and in particular our local legislators, who are tremendous advocates for Indiana State University.”
Diann McKee, senior vice president of finance and administration and treasurer for ISU
Indiana State’s
2019-20 operating budget contains a projected 1.5 percent across-the-board
increase for employees with good performance. Criteria for any salary
adjustments will be determined once enrollment numbers are known for the fall
2019 semester and an assessment of overall budgetary conditions has been made.
The budget also
reflects a 1.5 percent increase in student wages and a 2 percent increase in
university scholarships.
In other
business, the board:
• Authorized
university officials to secure approval of the final plan of financing for the
sale of Indiana State University Housing and Dining System Revenue Bond, Series
2019. Trustees previously approved a $16,800,000 renovation of Sycamore Dining
as the final phase of a comprehensive renovation of the Sycamore Towers
complex. Funding for the project is from dining capital reserves and bond
proceeds.
Renovations are
underway with a completion date of spring 2020. All state approvals have been
secured with the final plan of financing, subject to the approval of the
Indiana Finance Authority and state budget director.
The Housing and
Dining System Revenue Bond Series 2019 also includes the current refunding of
Series 2009B resulting in a savings of $400,804. The par amount of the refunded
bonds is $7,400,000 in principal that matures from April 1, 2020, to April 1,
2027. The refunding does not extend the life of the debt.
• Approved a
request to seek authorization for the following projects totaling $1,504,289
from state’s repair and rehabilitation appropriation as follows:
Root Hall roof
replacement $1,200,000; Holmstedt Hall roof and flashing repairs $50,000;
building system repairs $50,000; masonry restoration $154,289; sidewalk repairs
$50,000.
• Recognized the
service of Trustees David C. Campbell and Andrew Case, whose terms are ending
this month. Campbell has served on the board since 2011, and has served as its
chair (2015 to 2018), vice chair (2014 to 2015) and secretary (2012 to 2014).
Case has served as the student trustee from 2017 to 2019.
• Approved the
slate of Board of Trustees officers for 2019-2020, effective July 1, as
follows:
- Chair: Jeff Taylor
- Vice Chair: Kathleen Cabello
- Secretary: Kim Smith
-
Assistant Secretary: Edward
Pease -
University Treasurer: Diann
McKee -
Trustee to serve as ex-officio
member of the ISU Foundation Board: Smith -
Smith will additionally chair
the Finance Committee, with Randall Minas and Taylor serving as members.
The board is
scheduled to meet next for its annual retreat Aug. 1-2 in Indianapolis.
