{"id":107956,"date":"2021-06-18T14:44:42","date_gmt":"2021-06-18T18:44:42","guid":{"rendered":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/?p=107956"},"modified":"2021-06-18T15:55:33","modified_gmt":"2021-06-18T19:55:33","slug":"wright-state-trustees-approve-fiscal-year-2022-budget","status":"publish","type":"post","link":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/2021\/06\/18\/wright-state-trustees-approve-fiscal-year-2022-budget\/","title":{"rendered":"Wright State trustees approve fiscal year 2022 budget"},"content":{"rendered":"

\"\"<\/a>Wright State University has developed a three-year budget plan that guides operations, realigns expenditures with revenues, and supports the university\u2019s academic mission as it emerges from the coronavirus pandemic.<\/p>\n

The Wright State Board of Trustees unanimously approved the fiscal year 2022 budget on June 18. Read the FY22 budget presentation<\/a>.<\/p>\n

Wright State President Sue Edwards, Ph.D., said Wright State is creating a culture focused on meeting the needs of students.<\/p>\n

“At Wright State, we are here standing together to meet our students where they’re at,” she said, “to provide them with access to an affordable high-quality education with experiential learning opportunities that set them apart from all other graduates and onto a path of success.”<\/p>\n

The university expects revenue to increase from $210 million in FY21 to nearly $227.7 million in FY22. The 2022 budget anticipates that state financial support will increase by 1% to $83 million.<\/p>\n

Wright State has budgeted for a reduction in fall enrollment of 9.4% to 10,600 students. The three-year budget plan projects the university will serve 10,000 students by fall 2024.<\/p>\n

University expenses are projected to decline from $241 million in FY21 to nearly $238.6 million in FY22.<\/p>\n

Expenses are expected to outpace revenue during FY22 by $10.8 million.<\/p>\n

The university’s three-year budget plan achieves a balanced university budget in fiscal year 2024 and includes the continuation of strategies to restructure and resize operations to successfully serve 10,000 students. The university has trimmed about $130 million from its operating budget in the last five years and will continue to focus expenses on critical needs during the new fiscal year.<\/p>\n

Wright State continues to offer one of the lowest tuition rates among Ohio’s four-year universities. The Wright Tuition Guarantee Program<\/a> locks in the same annual cost of tuition, housing and dining over a four-year college career for newly admitted, degree-seeking undergraduate students who are Ohio residents.<\/p>\n

The FY22 budget includes a Presidential Welcome Scholarship, a one-time $1,000 scholarship awarded based on need, to new, direct from high school students who are Ohio residents. Over 34% of new direct from high school students will be eligible for the scholarship.<\/p>\n

The budget includes a 2.5% cost of living increase for all employees who were not contractually guaranteed increases this year.<\/p>\n

The university also announced that it received $14.5 million in new Higher Education Relief Funds for financial aid grants for students as part of the 2021 American Rescue Plan, which President Biden signed into law in March.<\/p>\n

It will be the third round of federal emergency grant funding the university will distribute to students for expenses associate with the coronavirus pandemic.<\/p>\n

While Wright State has seen major disruptions caused by the pandemic, Edwards said she is hopeful for the future.<\/p>\n

“I am hopeful because we are creating a culture of students first,” she said. “I am hopeful because we are back engaging with our community partners in meaningful ways. And I am hopeful because we have momentum.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Wright State’s three-year budget plan guides operations, realigns expenditures with revenues, and supports the university\u2019s academic mission as it emerges from the coronavirus pandemic. Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":43,"featured_media":69862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[711,725,715],"tags":[],"class_list":["post-107956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-faculty-staff","category-home-news-sidebar","category-news"],"_links":{"self":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/107956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/comments?post=107956"}],"version-history":[{"count":7,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/107956\/revisions"}],"predecessor-version":[{"id":107984,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/posts\/107956\/revisions\/107984"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media\/69862"}],"wp:attachment":[{"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/media?parent=107956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/categories?post=107956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/webapp2.wright.edu\/web1\/newsroom\/wp-json\/wp\/v2\/tags?post=107956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}