Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

June 22-23, 2004 29232this is a tight budget, it is anticipated that some of the reserves committed will be recapturedthrough expanded student recruitment efforts resulting in increased enrollment, through notfilling and/or delaying the filling of some open positions and through spending restraint byCameron’s faculty and staff. Increased funding from the Oklahoma Legislature is needed ifCameron is to adequately meet the educational needs of Southwest Oklahoma.The projected, unobligated reserve balance for June 30, 2005 is $2,632,500. Thisamount is equal to the minimum reserve of 8.33 percent of budgeted expenditures recommendedby the Oklahoma State Regents for Higher Education.President Ross recommended the Board of Regents approve the operating budget forfiscal year 2005 as presented.Regent Wade moved approval of the recommendation. The following voted yes onthe motion: Regents Everest, Clark, Stuart, Weitzenhoffer and Wade. The Chair declared themotion unanimously approved.TUITION RATES FOR FISCAL YEAR 2005The proposed tuition increases will provide additional funding needed to supportCameron University’s top budget priorities: the first planned salary increase in three years offaculty and staff salaries, partially offset continued reduced levels of funding from the State ofOklahoma, and partially offset increases in mandatory costs. The proposed tuition increase isexpected to generate additional tuition revenues of approximately $587,500.For fiscal year 2005, Cameron University’s top budget priority is a merit-based payincrease for faculty and staff. The average faculty salary at Cameron is $44,557, sixth among theeleven regional universities in the State. On a national level, the 2002-2003 average facultysalary for public, four-year universities was $58,440, placing Cameron at 76 percent of thenational average.Cameron’s faculty and staff last received a salary increase in July 2001. In October2003, eligible employees received a one-time merit stipend, averaging three percent. Theplanned salary increase will allow Cameron to be more competitive in attracting and retainingqualified faculty and staff. Ongoing recruitment efforts for the 2004-2005 academic yearindicate current salary levels generally are insufficient to attract qualified faculty. Preliminaryresults show that eight positions will not be filled due to salary constraints. Additionally,Cameron has made several salary adjustments for existing high-performing faculty to counteroffers from other universities and to provide equity among individual faculty. The amount of thesalary increase plan will be determined when Fall enrollment is known. Each one-percentincrease in salary costs the University approximately $174,000.Dr. Paul Risser, Chancellor for the Oklahoma State Regents for Higher Education,has established the following guidelines for requesting tuition increases:• Communication of tuition request to student government organizations, other studentgroups and students at large• Efforts to increase need-based financial aid proportionately to tuition• Analysis of the expected effect of tuition increases on enrollment• Dedication to cost-effectiveness in operationsPresident Ross presented tuition and mandatory fee adjustment information toCameron’s Student Government Association representatives in April. Two additional openforums on tuition and mandatory fee rates for students were conducted. At each of these