June 17, 2003
CONTACT: Ward Mullens

EMU regents approve 2003-04 general fund operating budget

YPSILANTI – The 2003-04 general operating fund budget of $197,196,980 was approved for Eastern Michigan University by the Board of Regents at its regular meeting June 17.

The budget is a $3.2 million, or 1.6 percent, increase over the prior year. This is $8.8 million lower than the 2003-04 state appropriation request approved at the November 19, 2002 Board meeting.

“The net increase in our budget directly reflects enrollment growth,” said Patrick Doyle, vice president of business and finance for EMU. “Obviously the most significant component of the new budget is the $8.5 million budget reduction plan that was developed in response to the state appropriation funding decrease. This plan included the elimination of 84 jobs.”

The budget is based on the executive recommendation for a fiscal year 2004 State of Michigan appropriation of $78.9 million, a 10 percent decrease from the final state funding level for fiscal year 2001-02, and a 6.74 percent decrease from the final state funding level for fiscal year 2002-03. It is also based on enrollment levels consistent with 574,074 student credit hours, an increase of 1.5 percent over 2002-03.

Doyle said the 10 percent reduction in state appropriations for EMU will reduce state funding per student to about $4,028, $40 less than funding received in 1996.

More than half of the additional $3.2 million will be allocated to financial aid ($1.7 million).

The board also approved the 2003-04 auxiliary fund operating budget amounting to $39,040,442, an increase of $1.02 million above the 2002-03 budget. The revenue variance is primarily due to a 4.5 percent increase in room and board rate.