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Trustees Approve General Fund Operating, Dining and Housing Budgets

Ferris State University’s Board of Trustees approved its 2012-13 general fund operating budget of $190.3 million, which includes a projected $41.3 million in funding from the state of Michigan at its regular meeting on Wednesday, July 11.

The operating budget includes additional state funding based on performance. The university received $1.7 million in performance-based funding in recognition of the number of critical-skills degrees it confers, its six-year graduation rate improvement, and total degrees conferred. This funding equates to 4.1 percent of the university’s base appropriation. The state will award additional funding to universities that restrain tuition increases below 4 percent. Trustees have already approved a 2012-13 tuition rate increase of 2.59 percent. The university will use all funds received from the tuition restraint funding for student financial aid.

The board also approved Phase II of its Housing Investment Plan to help maintain the quality of facilities for residence hall students. Initial plans call for the university to utilize available housing maintenance and repair funds and planned Capital Renewal and Deferred Maintenance program funds. Jerry Scoby, vice president for Administration and Finance, received authorization from the trustees to negotiate and enter into any and all required contracts required for improvements as part of phase two at a cost not to exceed $2.2 million. This second phase focuses on improvements for South Campus residence halls and West Campus Apartments.

Trustees approved planned renovations for the five north exterior tennis courts at the Racquet and Fitness Center at a cost not to exceed $301,000. University officials believe that the improvements will ensure that the courts meet the functional and programmatic expectations for competitive and recreational use.

The university has changed the name of the Bachelor of Science degree, HVACR to Bachelor of Science, HVACR Engineering Technology and Energy Management. The name change is designed to reemphasize the university’s focus on energy-efficient design and operation, while maintaining identity with the engineering component within the HVACR industry.

In other action, the Board of Trustees approved:

• the acceptance of a real estate gift of a parcel of land in Martiny Township, Mecosta County from the Axtmann family and the creation of the Harold and Pauline Axtmann Nature Preserve for use by students;

• a professional services contract with Fund Evaluation Group to provide investment advisor services for the university and The Ferris Foundation for a five-year period ending in September 2017;

• William Smith’s Fulbright scholarship sabbatical leave request for Spring Semester 2013 to teach a course in applied small business management/entrepreneurship at the University of Sierra Leone’s Institute of Public Administration and Management and to work with the Ministry of Agriculture, Forestry and Food Security in the development of their farmer small business management program;

• the extension of President David L. Eisler's contract for one-year, which takes him through June 30, 2017, and giving him a 2.5 percent salary increase, the same percentage increase faculty and the administration received July 1;
• the appointment of Karen K. Obermier as secretary to the Board of Trustees;

• the appointments of 14 members to the Boards of Directors of FSU-Authorized Charter Schools, the addition of a GED program at Lighthouse Academy, in Kentwood; the addition of preschool at Joy Preparatory Academy, in Detroit; and the addition of preschool at Hope Academy of West Michigan, in Grand Rapids; and
• the dissolution of the Kendall Foundation and transfer of its assets to the university and The Ferris Foundation to support Kendall College of Art and Design.

 
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