Financial Update
Changes in percentages in each category from previous years are the result of changes in the total budget and in the specific categories. For example, the State General Fund is the same as last year while tuition as a percentage declined. This is the result of a number of factors including increases in State General Fund and the budget in total, while tuition revenue, being dependent on growth and the rate we charge declined as a percentage of the total budget. A contributing factor to the tuition change was the Board requirement of no tuition increases during FY 2020.
Budget Expenditures
Covid Financial Data
| Lost Revenue |
$ 2,816,000 |
| Expenses: |
|
| Salaries and Wages |
$ 160,000 |
| Travel |
$ 25,000 |
| Fee-Other Services |
$ 87,000 |
| Fees-Professional |
$ 60,000 |
| Other Contractual Services |
$ 60,000 |
| Other Assistance |
$ 60,000 |
| Total |
$ 3,268,000 |
Investing in People
Investments in People 2019-2020 Faculty Professional Development Funds
- $225,000 allocated
- $210,400 awarded
- $188,100 to individual faculty
- $22,300 to campus initiatives
(new faculty activities, Tiger Leaders, Tilford, etc.)
- Individual Faculty Awards
- Mean: $1,001
- Median: $1,109
- Mode: $1,200
We have continued to invest in faculty development – there is also a staff development fund. Please note that not all monies have been spent due to COVID-19 related event cancellations and postponements.
2020-2021 Investments in People
- 8 equity adjustments
- Honored all promotion and tenure stipends
- Commitment to pay all faculty, staff and students during COVID-19; no layoffs nor furloughs
- Refunds for room and board issued to students
- Continuing to pay all
- Continuing to pay student employees
- Additional support to some students from the federal government