Missouri Southern Approves $76.4 Million Budget

Posted: May 18, 2013 2:19 PM by Associated Press
Updated: May 18, 2013 3:20 PM

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JOPLIN, Mo. (AP) - Missouri Southern State University has approved a budget for the next fiscal year that will require it to dip into reserves.

The budget approved by the Joplin school's Board of Governors on Thursday includes expenses of $76.4 million, with expected revenues of $74 million.

Rob Yust, vice president for business affairs, says the university has a reserve fund of between $12.5 million and $13 million, which will easily cover the extra expenses.

The Joplin Globe reports the budget includes a 2 percent pay increase for employees, a 2 percent increase in in-state tuition and about $2 million for capital improvement projects.

The budget also includes funding for initiatives aimed at increasing enrollment, such as increasing admissions staff, a stronger recruiting campaign and outreach efforts for transfer students.

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