SRU budget passed
Slippery Rock University’s proposed 2023-24 budget has expenditures totaling $153 million — about $6 million more than the previous year’s budget — and includes extra money for new initiatives and inflationary costs.
Included in the proposal is $3.5 million in prior year allocations to support “strategic initiatives.” The university also received an additional $3.6 million in state appropriations this year, according to Carrie Birckbichler, vice president of finance and administration at SRU, to help offset inflationary costs such as increased personnel expenses.
Birckbichler said the Pennsylvania State System of Higher Education has been “incredibly generous with increases” to the universities. The $3.5 million is in place to give the university’s new president, Karen Riley, who assumed the role in July, room for new initiatives.
“What that does is provide startup funds for new strategic initiatives,” Birckbichler said. “If we would make a decision to invest in a new academic program, the reserves would be for that.”
With a vote of 8-2 on Sept. 29, the trustees approved the 2023-24 budget with total expenditures of $153 million. The two dissenting votes came from trustees Bob Taylor and Suzanne Vessella. The proposed budget will be reviewed by the PASSHE Board of Governors at its next meeting, Oct. 18-19, for final approval.
Last year’s budget had about $146 million in expenditures. This year’s proposed budget reflects a five-year freeze on tuition increases, which the university began in the 2018-19 year, and has remained a flat rate since.
Birckbichler said about 75% of SRU’s budget annually goes to personnel costs, so the additional $3.6 million in state appropriations will help balance those expenses. Personnel costs account for $116.7 million in the proposed budget.
Additionally, student tuition accounts for most of the university’s revenues — a projected $75.5 million this year — while fees make up a projected $17.8 million. The rest of the proposed budget is balanced by the state appropriation at a projected $54.8 million; and “all other revenue,” which accounts for $9.3 million. Other revenues include fees at the student center and the recreation center, as well as additional food service and housing revenues.
According to Birckbichler, the university previously planned for an enrollment decline, as well as the expiration of the American Rescue Plan funds.
“Probably two years ago we did take a 10% operating budget decline ... This fall we are starting to see enrollments turn that around,” Birckbichler said. “Our recurring budget has been put together with the assumption that COVID funding is gone. That was only received for one-time things.”
Birckbichler said many of the university’s other expenses, such as utilities, student aid and student bad debt, have risen marginally compared to last year. Additionally, the proposed budget includes $2.7 million for capital expenditures, which Birckbichler said could be used on the ongoing renovation of the women's softball complex.
Birckbichler said the additional money from the state system is an investment into the uiniversity’s students.
“We are grateful for the additional state funding that allows us to educate students and provide students access to high-quality education,” Birckbichler said.
