BGSU BOARD ADOPTS BUDGET, APPROVES GERONTOLOGY SOCIAL WORK MASTER’S
The BGSU Board of Trustees at its June 23 meeting set educational and general operating budgets for Fiscal Year 2017. The budget includes compensation increase pools for faculty and staff.
“Our University has shown significant improvement financially,” said President Mary Ellen Mazey. “Our focus on attracting strong students, providing them a world-class education and helping them to continue through to graduation, plus implementing strategies for efficiency and effectiveness in our campus operations, have resulted in an improved financial position.”
The combined revenues from all University budgets for FY 2017 is expected to reach $415.3 million, with planned expenditures from all funds of $411.5 million. That total brings BGSU back to its 2012 level, as it has responded to Ohio’s new higher education funding formula and other economic impacts.
BGSU’s combined campus budget reflected some good news from the state, notably an estimated $75.1 million in State Share of Instruction (SSI) for fiscal year 2017. While still far below the $95 million in SSI it received in 2010, it is a step up from FY 2016’s $71.1 million. Several factors contribute to the rise, according to CFO Sheri Stoll. The state provided an increase of 4 percent in FY 2017 SSI appropriations, and BGSU’s performance has continued to improve in student enrollment, retention and graduation rates, all of which have contributed significantly to its more favorable state funding.