Dayton Business Journal: Wright State unveils 2027 budget with salary increases, program expansions

One of the region’s largest universities has unveiled its 2027 budget, with money allocated to increasing salaries, program expansions and student success initiatives.

Wright State University’s Board of Trustees unanimously approved its fiscal year 2027 budget on June 26, allowing the school to invest in key strategic priorities.

Wright State’s financial stability was demonstrated across various metrics during fiscal years 2025 and 2026, according to a review of the budget.

The university saw a $5.5 million increase in the change in total net assets between 2024 and 2025. This financial growth defied the negative U.S. higher education credit outlook forecast by Moody’s Credit Rating, which cited a challenging policy environment and sluggish revenue increases.

For the year ending June 30, 2025, the university reported $322.4 million in total revenues, $295.1 million in total expenses, and $569.2 million in total assets.

In addition, university reserves grew from $106 million in fiscal year 2021 to more than $188 million at the end of fiscal year 2025.

Tuition revenue and enrollment also saw increases, bringing in $168.2 million through tuition and fees from nearly 12,000 students across College Credit Plus, undergraduate and graduate enrollment.

According to the budget review for the 2026 fiscal year, the university also experienced a reduction in its outstanding debt obligations. This decrease was achieved by making $5.4 million in payments between 2025 and 2026 toward two General Receipts Refunding Bonds series and the Ohio Air Quality Revenue Bonds.

Wright State successfully attained all three of its financial performance target benchmarks. This includes maintaining a stable credit rating from Moody’s Credit Rating, achieving a composite financial index score that was more than double its target, and earning a perfect 5.0 Senate Bill 6 composite score – the highest rating possible under Ohio’s financial health reporting system for public universities – for the third consecutive year.

“The work of the last several years has put us in a position to focus on what matters most – our students, programs and partnerships that make this region thrive,” Wright State President Sue Edwards said.

Looking ahead: Fiscal year 2027

Starting July 1, the university will enter fiscal year 2027.

Based on enrollment projections, tuition and fees for the year could reach up to $170.6 million, even though the graduate student headcount for fall 2026 may experience a slight decline.

The university expects unrestricted revenue of approximately $371 million.

Approximately 18% of the university’s expected revenue – about $68 million – will come from state financial support.

Through Ohio’s capital budget, Wright State is set to receive nearly $12.4 million to support facility and infrastructure improvements and technology upgrades across its Dayton and Lake campuses. The projects will help modernize campus facilities, enhance safety and reliability and support academic, research and workforce development programs.

Wright State also received $450,000 in state funding to help preserve its Wright Brothers Collection, one of the world’s most extensive repositories of Wright family artifacts, featuring original photographs, documents and personal items.

“These state investments will help ensure our students learn in safe, modern and innovative spaces while preserving the facilities that support our teaching, research and workforce development priorities,” Edwards said. “We are grateful for Ohio’s continued commitment to public higher education.”

As part of the budget approval, the board also authorized a 3% salary increase for many employees, effective Aug. 1, which will serve as the university’s annual pay increase date going forward.

The proposed budget shows a total compensation expense of approximately $184.2 million.

“This budget reflects our commitment to creating opportunities for our students and meaningful partnerships that drive economic growth throughout the region,” Edwards said. “We continue to invest in our people, programs and facilities to further strengthen Wright State.”

Unrestricted university expenditures are projected to be $371 million and include investments in program expansions and student success initiatives.

In total, Wright State is projected to break even on its fiscal year 2027 operations, with both total revenues and expenses expected to reach $454.3 million.

Read the article at bizjournals.com/dayton.