Thursday, August 06, 2009
Trustees approve fees and operating budget
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The trustees approved an increase in the per semester credit hour fee for 2009-2010 to $177.80* for Indiana resident undergraduate students $257.10* for Indiana resident graduate students. Non-resident undergraduates will pay $420.50* per credit hour non-resident graduate students will pay $505.35*. In 2010-2011, Indiana resident undergraduate students will pay a credit hour fee of $186.67* Indiana graduate students will pay $269.95*. The credit hour fee for non-resident undergraduate students will be $441.53* and non-resident graduate students will pay $530.62*. Mark Rozewski, vice president for Business Affairs, explained Indiana law requires the University of Southern Indiana to set tuition for two years at the start of each new legislative biennium and to hold a public hearing on the proposed rates. The USI public hearing was held on July 20 and no comments on the proposed increases were received. He added, legislation passed in 2007 requires the Indiana Commission for Higher Education to issue non-binding tuition recommendations for each state-funded institution of higher education. The Commission's target recommendation for USI was 0 to 5 percent. Rozewksi added, "For Hoosier full-time undergraduate students, the new rate will be $255 more than last year or $5,334 for the coming year, with a further increase of $260 to $5,600 in 2010-2011." USI President Linda L. M. Bennett said, "With USI being the most affordable baccalaureate-degree granting institution in Indiana, we are committed to providing affordable quality higher education. USI has a history of maintaining an affordable fee structure, and the USI fees will remain significantly less than other four- year public Indiana higher education institutions in the next two years." The increased fees will be used to meet on-going operational and maintenance expenses. The trustees also approved a $85.5 million current operating budget for the 2009-2010 academic year. The budget includes $50 million for instruction and instruction-related expenses $6.4 million for student services $12 million for physical plant and $17.1 for administration. Due to the economic conditions in the state, the budget reflects a 3.3 percent decrease or $1.3 million less in state appropriation than last year. Bennett said, "This budget allows for no increases in employee compensation in 2009-2010 and limited opportunity for any investment in new initiatives. However, we are grateful to the state for the support of USI and appreciate the work of our location delegation in their efforts to sustain the University." The University did receive $4.4 million for the biennium in one-time federal stimulus money. That money will be used for repair and rehabilitation projects and other one-time expenditures. *Includes University Services Fee |
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