Central Michigan University’s Board of Trustees will review a $462 million proposed operating budget for the 2014-15 academic year at Tuesday’s meeting.
The proposed operating budget is a $22 million increase from the 2013-14 academic year.
The budget includes $266 million in salaries for faculty and staff and $45.6 million in scholarships and financial aid. State appropriations are set at $79 million for the 2014-15 academic year in the proposed budget.
Barrie Wilkes, vice president for Finance and Administrative Services, said about $6 million of the increase is coming from a partial restoration of state appropriations.
“The state is taking us back up to $79 million,” he said. “We’re still below what we were in ’01 and ’02, but it is an increase over last year’s number.”
Wilkes said the other $16 million of the budget increase will be discussed during Tuesday’s meeting.
Board Chair William Kanine said at the opening of the new Global Campus in Detroit outpost that he and the other trustees are looking forward to working out a new budget.
Trustees will also be discussing a $5.7 million deferred maintenance budget, a proposed name change to the chemistry department and a recommended creation of a department of entrepreneurship in the College of Business Administration.
The Board of Trustees meet at 9:30 a.m. on Tuesday in the Bovee University Center President’s Conference Room.
Check back with cm-life.com for more updates on this story.
Editor-in-chief Ben Solis contributed to this report.
