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Board of Control Approves 2003-04 Budget
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(June 25, 2003) Michigan Tech's Board of Control approved a balanced, $116.5-million general fund budget June 25.
Also at the meeting, MTU president Curt Tompkins announced that he and most university vice presidents would not accept any pay raises next fiscal year.
The board cut $500,000 from the $117.0-million budget offered by the univeristy administration. On a motion by Board Member Kathryn Clark, the board voted to reduce projected revenues from tuition by that amount. To pay for the revenue reduction, the board eliminated $500,000 that had been designated as a cushion should state appropriations be reduced.
The $500,000 cut reduces projected revenue from tuition from $55.3 million to $54.8 million, or 1.7 percent. Exactly how this change will affect students' tuition rates will be determined in the next few days by the university.
The university has adopted a new tuition structure, charging students based on the number of credits they take rather than assessing a flat rate for full-time students. Under the administration's plan, engineering and computer science students would pay a surcharge of $400 per semester in addition to the $230 per credit hour paid by all undergraduates who are Michigan residents. Freshmen would not pay the surcharge. Overall, the administration's increases had amounted to a 14.2 percent increase in tuition and mandatory fees.
The budget also includes an additional $2.9 million in financial aid, an increase of 24.7 percent.
The budget includes $2 million for raises for MTU employees, approximately 3 percent. Over the last two years, the university has increased salaries and wages a total of 1.5 percent.
At the conclusion of the meeting, Tompkins asked the board to approve 2 percent salary increases for all employees reporting directly to him. After the board approved his request, he announced that neither he, Provost Kent Wray, Vice President for Governmental Relations Dale Tahtinen nor Senior Vice President for Advancement and Marketing Fred Hensley would accept raises this year. Instead, that pool of money will be used to give raises to other staff reporting directly to Tompkins, including Chief Financial Officer and Treasurer Dan Greenlee, who was recently promoted but did not receive a salary increase.
In other business, the board approved a new BS degree program in Software Engineering. Students will be able to enroll in the program this fall.
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