Report indicates Ohio State is still a bargain

COLUMBUS -- Ohio State continues to offer an exceptional educational experience at a reasonable cost, particularly when compared to top public institutions in other states and other universities in Ohio, Senior Vice President for Business and Finance William J. Shkurti told the university’s Board of Trustees Friday (3/1).

The annual financial benchmark report measures the university’s revenues and spending compared to benchmark institutions – nine universities that are highly ranked academically and comparable to Ohio State in mission, size and configuration. They are Pennsylvania State University and the universities of Arizona, Illinois, Michigan, Minnesota, Texas, Washington, Wisconsin and California, Los Angeles.

“When compared to benchmark institutions, Ohio State has approximately 18 percent less resources per student, yet continues to improve the quality of its academic programs and the quality of the experience of its students,” Shkurti said. “This university continues to be a tremendous value to students and the taxpayers of Ohio."

While the report does not reflect the impact of fiscal 2001 and fiscal 2002 budget reductions, the information still provides useful comparisons, he said.

The university still trails the benchmark institutions in major categories of current funds revenue per student, except in tuition and fees, but has improved significantly in most areas, Shkurti said. At $28,177, Ohio State has 18 percent fewer resources per student than the $34,341 benchmark average, a 2 percent improvement over fiscal 1999. Yet annual resident undergraduate tuition and fees at Ohio State currently are the lowest among Ohio’s public four-year universities with selective admissions, and 3.2 percent below the benchmark average of $4,919 (FY 2002). UCLA has the highest revenue per student at $46,057, while Penn State has the highest in-state tuition at $7,574.

Compared to benchmark institutions, Shkurti said that Ohio State spends above the average for instruction and public service, but well below the average for most other non-instructional services. The university spent 126 percent of the benchmark average for public service and 107 percent of the average for instruction, but significantly less on support services – such as physical plant expenses and student support services – outside the classroom.

In conclusion, Shkurti said that Ohio State has made significant progress since the early 1990s. Despite budget challenges, Ohio State continues to improve the quality of its academic programs and the quality of the student experience. In order to continue to make progress, the university will need to continue to manage its existing resources effectively, assure continued state support, and expand and develop its revenue base.

He also reminded the board that national rankings provide another indication of the value – in both academic and financial terms – of an Ohio State education. Ohio State was ranked 35th in academic reputation by U.S. News & World Report in 2001 (compared to 37th in 1997) and has an annual in-state tuition of $4,761 for the 2001-02 academic year, while Miami University was ranked 68th with tuition of $6,916. Ohio University was ranked 84th and had tuition of $5,493 while the University of Cincinnati ranked 134th with tuition of $5,823. Finally, Kent State University was ranked 155th with tuition of $5,598.