Ohio State sets 2004-05 spending plan

COLUMBUS -- The Board of Trustees on Friday (7/9) approved a budget framework for the Columbus campus for the current 2004-05 fiscal year.
Details of the university’s total annual spending and income will be presented to the board at its next meeting in September.

The presentation on Friday highlighted the core strategic academic and financial principles that will drive the university’s spending for the year. Chief among the principles is that resource allocations for the year will continue to support the university’s Academic Plan, Ohio State’s overall strategy to become a top-tier public university, and its leadership agenda, three areas of focus also driven by the Academic Plan.

“Ohio State’s leadership has set forth a budgetary plan which will enhance our efforts to conduct cutting-edge interdisciplinary research, provide distinctive educational experiences for our undergraduates, and be a model for 21st century outreach and engagement,” said Barbara R. Snyder, executive vice president and provost.

To that end, Snyder said the current year budget will provide nearly $12.8 million in one-time seed funds for interdisciplinary research, both medical and non-medical. A $1.3 million increase in continuing funds will go for research support at the Comprehensive Cancer Center, and another $825,000 to library improvements, research regulatory compliance activities and technology transfer.

The budget provides an additional $11.3 million in increased undergraduate financial aid, including $5.3 million from tuition increases earmarked for financial aid. An additional $3.3 million of the earmarked tuition increase is set aside for enhanced instructional technology.
Another nearly $2 million in earmarked tuition fees will help fund increased student activities and enhanced recreational facilities.

In the areas of outreach and engagement, Snyder told trustees that special funding will go toward the university’s new child care center in the nearby Weinland Park area, the WOSU Stations’ conversion to digital technology, primary and secondary school initiatives, and a new project focused on senior citizens. Additional funds will be used to help support Ohio State’s efforts at improving its relationship and enhancing its reputation with federal legislators and agencies in Washington, D.C.

Snyder said college resources increased $26.3 million, or 5.5 percent. “This increase will allow colleges to afford pay raises averaging 3.3 percent and cover benefit increases of 9 percent, driven largely by including enhanced benefits for our graduate associates.”

The college increases include $2.8 million that is being used to re-set individual college budgets to bring the budgets more closely into alignment with the Academic Plan. Another $9.2 million in one-time and continuing funds will help enhance core campus support services, such as public safety, building maintenance, compliance with legal mandates, and child care for faculty, staff and students.

“Ohio State’s current funds budget continues to be driven by effective financial stewardship of public money. This includes compliance with state and federal legal mandates, improved operating efficiencies, and a commitment to meeting our long-term financial goals,” said William J. Shkurti, senior vice president for business and finance. “For the next year, the university will continue to make progress on its strategic goals despite an uncertain financial environment and one where a larger and larger share of our revenues will come from sources other than state funds. At the same time, we will continue to examine everything we do to determine what we need to do better and what we no longer need to do at all.”

Shkurti also pointed out that Ohio State’s undergraduate tuition – at $7,515 for in-state students entering this fall – places the university fifth in a ranking of Ohio’s other selective admission public universities. Miami’s tuition is highest, followed by Cincinnati, Bowling Green and Ohio University.