Excerpt from the Wright State Guardian
On June 14, the Wright State Board of Trustees approved new amendments to their bylaws, a $255.5 million budget for the 2025 fiscal year and a $12.6 million capital plan for facilities improvements.
They unanimously approved the fiscal year 2025 budget, which runs from July 1, 2024, to June 30, 2025. In 2023, Wright State brought in $286.97 million in revenue and spent $265.26 million, leaving a $21.71 million change in total net assets.
The university expects unrestricted revenue to be around $253,791,043 million for the fiscal year. However, the university’s expenses are projected to be $255,454,928 million and trustees expect to use $1,663,885 million in reserves to cover the difference.
“We will work very diligently to move that $1.6 million defecit into either a zero or a positive fund balance by the end of the year,” a Financial Operations Team Member said in the meeting. “That is a result of the collective team in this room working together as we have been over the last few budget cycles.”
Wright State has built back up its reserves from $16.91 million in fiscal year 2017 to $141 million in fiscal year 2023.
The board also approved a three percent across the board raise for many employees effective July 1.
