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The University News

The Student News Site of Saint Louis University

The University News

The Student News Site of Saint Louis University

The University News

SGA discusses University budget

Usually when the term “budget” is mentioned in the Student Government Association senate chambers, it most likely regards student organizations.  However, at the SGA meeting on Wednesday, Feb. 23 this was not the case.

The senate was given a special presentation of the Saint Louis University Fiscal 2012 operating budget.  Bob Woodruff, vice president and chief financial officer, walked the senators through the approved budget that will officially start on July 1, 2011.

According to Woodruff, a significant portion of the budget allocation process stems from the freshmen admission and current student remission rates.

In total net tuition revenue alone, $263.8 million is expected to be gained.  This is with an enrollment goal of 1,675 freshmen.

“We need to achieve that goal in order to deliver the education you expect,” Woodruff said.

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It should be noted a greater portion of the almost $700 million budget will not be directly put toward academic programs and improvements.  According to Woodruff, almost 70 percent of the budget goes toward staffing benefits, salaries and other associated costs.  These are the “people” costs, as Woodruff explained in his presentation.

“We try to operate as efficiently and effectively as possible so we don’t waste money,” Woodruff said. “We’re not a for-profit business. We want to create a surplus so we can reinvest in programs and buildings.”

With the mention of campus buildings, some senators inquired about a new residence hall being included in the budget anytime soon. According to Woodruff, there are no immediate plans.

The fiscal year 2012 budget will see an increase of tuition costs by four percent for undergraduates and a 2.5 percent increase in room and board rates.

John Cook School of Business senator Grant Podolski said that the rate increases should be expected as long as the costs of retaining employees climb and inflation plays a factor.

“The way to decrease the increases in tuition is through increased revenue, most accessible through larger amounts of students,” Podolski said.  “At some point, the University will reach a climax in student capacity, but until then, it is necessary the University comes together and promotes itself to always be gaining new students.”

 

 

 

 

 

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