Excerpt from the Wright State Guardian
The Wright State University Board of Trustees approved a $227.6 million budget with a $10.8 million deficit for FY22. However, the university also reported a projected surplus of $30.7 million for FY21.
The lengthy June 18 committee discussed topics including direct payments to students via the American Rescue Plan Act. In addition, committees conversed on bond refinancing for current university debt, tuition, staff raises, and academic initiatives.
The new budget includes a nearly $11 million deficit, decreases in research funding, a 2.5% pay increase for all employees who were not contractually guaranteed increases this year, and a tuition increase for incoming students.
The trustees did not publicize the tuition increase amount, and the university has not disclosed the exact amount student may expect. Although, the university is barred from increasing tuition by more than 2%, according to state law.
Many factors caused these changes, including decreased campus activity due to the global pandemic and declining enrollment rates.
Enrollment for Fall 2021 is expected to drop by 9.4%, causing significant losses in tuition revenue. The university estimates that enrollment issues will persist and impact budget propositions for the coming years.
