HUNTINGTON, W.Va. — The Marshall University Board of Governors met Thursday and seemed pleased with the university’s current budget despite it being hit with the coronavirus pandemic.
Chief Financial Officer Mark Robinson told the board that the university is anticipating a $900,000 increase to the budget in tuition and fees, as first reported by the Herald-Dispatch.
“If I knew this is where we were going to be in mid-December back in May, I would have taken it in a heartbeat. There’s been a lot of effort by a lot of people and a lot of sacrifice to get where we are at and it will continue,” Robinson said on Thursday.
Robinson added that it looks like the university will not have to make $4.9 million in cuts that it had been preparing for. Included in fall cuts were temporary salary reductions due to $4.2 million in lost revenue this year.
Gilbert said Thursday he’d like to reinstate his employees’ full salary.
“I do want to restore the salaries before the end of the fiscal year,” Gilbert said. “We may have to continue to freeze our travel and other things but we need to put the salaries back in place before the end of the fiscal year and Mark (Robinson) and I are going to do that.
“We may have to continue some of the other measures into next year.”
Other financial moves that were approved by the finance committee chaired by Geoffrey Sheils were changing student fees in the spring semester with a goal to restore $850,000 to the budget. In the fall, student fees were waived but officials stated the university plans to reduce fees from $40 to $25 per credit hour for the spring to generate that money to the budget.
Gilbert noted it’s too early to tell what enrollment numbers will look like for the spring semester and into next fall. He’s hopeful most students will return to the classroom next month but said during the meeting there is a chance some won’t return.
Robinson said there has been an adjusted $1 million in the budget “to cover the scholarship increase we anticipate.” He also noted in his report to the board that the university is down $2.4 million in tuition and fees from year to date.
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December 18, 2020 at 05:08AM
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Marshall BoG discusses current budget; pleased with standing during pandemic - West Virginia MetroNews
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