Increased student enrollment for the spring 2014 semester positively impacted the approved budget.
Earlier last fall, the Torch reported that the Board of Trustees approved the general fund operating budget of $197.6 million for the 2013-14 year. Combined with the housing and dining budget of $33.5 million, the overall budget totals $231.1 million.
“The general fund is the primary fund supporting the academic mission of the university,” Director of Budgetary Planning and Analysis Sally DePew said.
A budget reduction of $2.1 million was assigned to address the decline in student credit hours.
“The approved budget included planned budget reductions of $2.1 million,” DePew said. “With increased spring enrollment, that amount is reduced to 1.3 million dollars.”
Following the approval of the budget in July 2013, the campus completed the fiscal year 2014 allocations.
This year $27,000 has been reallocated into part-time salaries and benefits and equipment.
The state has appropriated $45,636,500 for operations.
The state appropration for operations is an annual state funding amount that comes to Ferris from the Michigan budget.