The budget was presented and detailed April 17 to an audience in the Student Union Apollo Room.
The university proposed an annual operating budget of $304.5 million, an increase of $6.5 million over last year. It is part of an overall budget of $398.5 million, which includes money for restricted use that comes from research grants and contracts.
The university requested, as part of the budget, a modest, annual tuition increase this fall for full-time undergraduate students of $188 over last year’s tuition of $8,542, a 2.2 percent increase. Wright State’s tuition continues to track below the U.S. national average for four-year public universities and is among the lowest for Ohio’s four-year public universities.
“The university budget is about being a good steward of our future to ensure that students reach the finish of their degrees, that we continue our innovation in research, and continue to engage our community,” said President David R. Hopkins.
Mark M. Polatajko, vice president for business and fiscal affairs and university treasurer, detailed the financial condition of the university and laid out the proposed budget to the trustees and the campus audience.
Polatajko also reviewed the successes of the 2014 budget, highlighting how Wright State has saved money and created efficiencies by contracting with a new hospitality services provider, launching energy-saving initiatives, entering into a consortium to manage printing services and optimizing other resources.
Wright State also increased scholarships with over $6.5 million awarded to more than 2,300 Wright State enrolled students.
“We are creating the highest value for every dollar we spend,” he said.
He noted that the ongoing construction of the Neuroscience Engineering Collaboration Building, the Student Success and Classroom Building and other campus projects will help drive student success and research efforts. Additionally, more than $14 million in capital funding from the state will be used to modernize campus buildings for improved classroom experiences and revitalize space to improve student service.
While higher education institutions face several challenges amid state and federal initiatives focused on delivering quality education and increased value to families, as well as continued decrease in state support of higher education, Wright State University is poised to continue to serving 21st century-students.
“The financial condition of the university is strong,” said Polatajko. “The fiscal 2015 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 at their May 2 meeting.