The Eastern Michigan University Board of Regents recently approved a 5-percent room and board increase for 12 of its residence halls (which includes Putnam Hall, pictured below) and no rate increase for its three campus apartment complexes. The rate for Wise Hall decreased 2.6 percent. The average cost increase for 2007-08 is $332. The rate increase meets the following objectives:

Budgeted residence hall occupancy of 3,000 for Sept. 30, 2007

Achieve the budgeted-for apartment occupancy rate of 81 percent

Maintain the budgeted-for fall residence hall occupancy rate of 95 percent

Meet debt obligation payments of $1,858,923

Meet basic facility needs outlined in the Capital Maintenance Plan of $1.5 million

Maintain Housing and Dining reserve fund balance at a minimum of $1 million

Source: Board of Regents

 

 

---