Excerpt from the Wright State Guardian
The Board of Trustees held a two-day session finalizing plans and business deals for the academic year 2021-2022.
The Board committee day was held on Sept. 16, while the public session convened Sept. 17 at Lake Campus.
Committee day kicked off the meeting with the Academic and Student Affairs followed by the Finance, Audit, Governance and Compliance committee.
Discussing the financial status of the university, Doug Fecher, chair of the committee, began the meeting by expressing the university’s positive financial standing.
“We begin this fiscal year in better shape financially as a university than we have in several years,” Fecher said.
Despite this optimism, the monthly financial performance reports, presented at the meeting, show revenues for FY 2021 are $11 million lower than FY 2020. Revenue from tuition and fees, the main source of income, is also projected to decrease by $8.8 million in FY 2022.
Additionally, WSU is planning on using $10.9 million in reserves for FY 2022. Reserve funds are funds set aside for when the university does not bring in enough revenue for its expenses.
Tuition and fees saw one of the largest revenue decreases due to falling enrollment numbers.
According to President Sue Edwards’ report presented during the Board’s public session, the total census date headcount for Dayton, Lake and Medical students is 11,469. 10,264 students are enrolled on the Dayton campus and another 1,205 students are enrolled on the Lake campus.
Enrollment is significantly lower than in previous years, including 2020. The total census date headcount for 2020 academic year rests at 12,234 students according to the FY 2022 budget presentation presented at the June 18 Board of Trustees meeting.
