December 11, 2013 Leave a comment
Provost Marc Roy attended Student Assembly on Sunday, Nov. 24 to present the
college’s recent budgetary restraints and subsequent changes with the student to faculty ratio.
About 80 students gathered in the Hyman Forum to hear Roy’s presentation, which began with an overview of the college’s financial shortfalls in tuition net-revenue.
“This year our budget has about six main areas; two-thirds of the budget comes from net undergraduate tuition and fees and housing and dining,” Roy said. “That means tuition after any financial aid you received is factored out… That’s $40 million right there.”
Roy explained that the college’s expenses must equal its revenue. Therefore, when the college budgeted for more students than the number that actually enrolled, they had to re-balance the budget. In addition, Roy explained that within the college’s $59.9 million budget, about two-thirds is designated to salaries and benefits for faculty and staff.
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