|
Tuition — a 6% tuition increase for all
enrollment categories for FY04 and FY05
Residence
Halls — a 5% increase for FY04 and a 5.5% increase for
FY05
Parking — no
increase in parking rates in FY04. For FY05, there will be a rate
increase for certain permit types, effective in May 2004 (coinciding
with the 2005 fiscal year)
Investment
Income — projected at $4 million, in light of September
11, the economy, and the global political situation.
Faculty-Staff
Salaries and Benefits — a 4% increase in the salary pool, distributed
based on performance. $1.2 million in base funding will be provided
over two years to hire new full-time faculty, reduce reliance on adjunct
faculty, and implement differential teaching loads. The university’s
contribution to health plan premiums will also increase.
Financial
Aid — increased to match the tuition rate and indexed
to enrollment projections. The tuition discount rate is 29% for undergraduate
and graduate students, and there is additional funding to make graduate
financial aid awards more attractive and competitive.
Supplies
and Expenses — additional funding for a wide range of
programs and services, including wage policy implementation, increased
support for student health services, expanded staff training, the Office
of International Affairs, athletics, property and liability insurance
premium increases, and operating costs for the new Greenberg Theatre
and the Katzen Arts Center.
Library
Acquisitions — a base increase of $400,000
Technology Fund — a base increase of $1 million
over two years for a three-year PC life-cycle replacement program,
and
a new student one-card system funded from the student technology fee.
Furnishings
and Capital Equipment Renewal Fund — $1 million over
two years
Facilities
Improvement Fund — $1 million over two years
Transfer
to Quasi-Endowment — equals 2% of the gross revenue
budget
Enrollment
Contingency — equals 1.5 percent of tuition revenue
Internal
Budget Reallocations — $1.8 million within the existing
base budget over two years to fund institutional priorities articulated
in the 15-point plan. These initiatives include streamlining administrative
functions, sharing resources across divisions, making program changes,
and internal funding for operating cost increases.
|
