The Marshall University Board of Governors today approved a $345 million budget for the next fiscal year, including a nominal increase in tuition and fees, and plans to increase employee salaries.
Approval was given for an overall 2.5% increase to in-state undergraduate and graduate fee rates, as was a three percent increase in housing and dining rates. The increase equals about $220 more a year for undergraduate students and $230 more annually for resident graduate students. Tuition and fee rates for non-resident, international and metro undergraduate and graduate students will stay flat.
Marshall University President Brad D. Smith said the university remains dedicated to its enduring financial principles.
“We are grounded in our principle to grow students and not fees, so the tuition and fees increase that was approved today is very modest, below current inflation,” Smith said. “And in support of the principle to invest in our team, we are awarding the state funds for a pay increase. Every employee will get a $1,000 lump sum payment and a one percent base salary increase.”
Additionally, Smith said that a market equity study has been concluded. As a result, $1 million, sourced by the university’s “Save to Serve” program, will be allocated to employees who deviate furthest from market norms.
Board members also received an update on the implementation of the campus carry legislation adopted by the West Virginia Legislature last year. It is expected campus carry will carry an initial cost of $300,000 to cover signage, construction updates, personal screening machines or wands, among other updates. The campus carry law becomes effective July 1 on public college and university campuses across the state.
In other action, two degrees were approved by the board, a Bachelor of Applied Science, and a Master of Arts in Applied Behavior Analysis.