Missouri Western Board Approves FY2025 Budget, Raises Tuition and Fees

The Missouri Western State University Board of Governors voted to approve the university’s fiscal year 2024–25 budget after a recommendation from the Personnel, Finance and Operations Committee.

Vice President Daniel presented the budget to the board, saying the proposal assumes a 5.5% decline in student credit hours, a 7.5% increase in tuition and a 1% increase in employee salaries. "We are assuming a 5 and a half percent decline in enrollment with a 7 and a half percent increase in tuition and 1% increase to salaries," Daniel told the board. Under the proposal, undergraduate residential tuition rises from $258 to $277 per credit hour and mandatory fees increase roughly $5 per credit hour (about 12%). Housing rates were raised about 5% and meal-plan board rates by 5.5%.

Daniel told governors the FY2024 actuals through March 31 show operating revenue of roughly $44.2 million and highlighted that special-state ARPA grant receipts significantly affected recent revenue trends. He also said payroll and other expense lines are trending below budget and that scholarship spending is under budget because of lower enrollment.

The Personnel, Finance and Operations Committee recommended approval of the budget and the March 31, 2024 financial report. The board moved and seconded the motions and approved both items by voice vote.

Board materials posted in BoardEffect include the full rate schedule and fund totals. Board members discussed continuing efficiency efforts and maintaining contingency planning, and presenters said adjustments to revenue projections could occur if state higher-education appropriations or interest-rate assumptions change.

The board did not record a roll-call vote in the transcript; minutes state the motions were approved by voice vote. The next board meeting is scheduled for June 27, 2024, where the nominating committee will present a slate for chair and vice chair elections.