President Clif Smart says a majority of Missouri State University’s newly approved budget will help boost the pay of faculty and staff.
The Missouri State Board of Governors today approved the $253 million budget for the next fiscal year, which begins July 1. The figure is $5 million more than the current year’s budget, which allows for a two percent pay increase for full time employees.
Smart said in a news release that this is the first time in five years the state legislature has approved an increase in state appropriations for higher education, which still must be approved by the governor. Of the $25 million allocated by lawmakers, MSU will receive $2.4 million. That, along with an increase in tuition and fees, will fund the budget increase.
Listen to President Smart's conversation with KSMU following the completion of this year's legislative session.
In March, the Board approved a 1.7 percent increase in Missouri resident undergraduate tuition and student fees, a 3 percent average increase in room and a 4 percent increase in board charges.
Approximately $10 million will be spent on behalf of Missouri State-West Plains. The university will provide approximately $27 million in scholarships during the year.
See the university’s new budget here.