Estimated budget of $241.5 million approved
July 6, 2001
KALAMAZOO -- At its July 6 meeting, Western Michigan University's Board of Trustees approved an estimated 2001-02 general fund operating budget of $241,531,740.
The new budget for the fiscal year that began July 1 includes an expected $125.7 million in state appropriations and $111.3 million in tuition revenue. The estimates are based on a state appropriations increase of 1.5 percent and new tuition rates set by trustees at the same meeting.
The budget includes expected compensation increases of just over $7 million, along with a nearly 15 percent, or $1.39 million, projected increase in utilities costs. Funds budgeted for student financial aid will also increase 8.5 percent, or $1.5 million.
The estimated budget projects target reductions of more than $2.6 million to be identified during the coming budget year.
In procedural action, trustees also approved the University's final 2000-01 budget of $245,887,720, up $19.4 million from last September's estimated budget of $226,444,022. At the end of each fiscal year, trustees approve actual revenue and expenses, which historically differ from the original estimate.
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