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:
Last updated: 07-24-2012