Wright State proposed its fiscal 2014 budget to the Board of Trustees as well as faculty, staff and students, a spending plan designed to deliver on the soon-to-be launched five-year Strategic Plan, a blueprint that charts the future course of the university.
The budget was presented and detailed April 11 to an audience in the Student Union Apollo Room.
The university proposed an annual operating budget of $298 million. It is part of an overall budget of nearly $403 million, which includes money for restricted use that comes from research grants and contracts.
The university asked trustees to approve an undergraduate annual tuition hike for full-time students this fall of $188 over last year’s tuition of $8,354, a 2.2 percent increase. Wright State’s tuition is tracking below the U.S. national average for four-year public universities.
“The budget strives to enhance student access and success, fuel community and economic development, drive resource optimization, and provide professional development opportunities for faculty and staff,” said President David R. Hopkins.
Mark M. Polatajko, vice president for business and fiscal affairs and university treasurer, said Wright State has been successful in strategically responding to the financial and economic challenges of recent fiscal years.
During his presentation, Polatajko listed recent accomplishments, outlined upcoming construction projects and detailed the financial health of the university, which he called “strong.”
“In terms of efficiency and effectiveness, our university continues to drive optimization of expenses, creating the highest value for every dollar we spend,” Polatajko said. “The fiscal 2014 budget continues on the path of sound fiscal stewardship and aligns our resources to the relentless execution of our 2014-18 Strategic Plan.”
The trustees are scheduled to vote on the budget April 26.