{"id":1925,"date":"2015-08-21T00:00:00","date_gmt":"2015-08-21T00:00:00","guid":{"rendered":"https:\/\/www.mtsu.edu\/blogtest\/fiscal-year-2015ae2016-budget-overview-2\/"},"modified":"2026-04-15T16:14:33","modified_gmt":"2026-04-15T21:14:33","slug":"fiscal-year-2015ae2016-budget-overview-2","status":"publish","type":"post","link":"https:\/\/www.mtsu.edu\/president\/fiscal-year-2015ae2016-budget-overview-2\/","title":{"rendered":"Fiscal Year 2015-2016 Budget Overview"},"content":{"rendered":"
<\/div>

The final state budget as proposed by Gov. Bill Haslam\u00a0and approved by the General Assembly included a\u00a0reduction adjustment in state funding for MTSU under\u00a0the Tennessee Higher Education Commission (THEC)\u00a0Outcomes-Based Funding Formula and additional\u00a0enhancement funds for improvements under the formula.\u00a0The net effect was a small state appropriation increase for\u00a0our University.<\/p>\n

The new budget for this fiscal year also included funds\u00a0for higher education employee salary increases that\u00a0would equate to a 1.5 percent salary pool. As in previous\u00a0years, the state appropriation will not fully fund higher\u00a0education salary increases\u2014meaning institutions\u00a0themselves will be required to fund a portion of the\u00a0increase. At the June quarterly meeting of the Tennessee\u00a0Board of Regents (TBR), a tuition increase was approved to\u00a0fund the institutions\u2019 portion of the 1.5 percent salary pool\u00a0plus more funds to increase the pool to 2 percent.\u00a0The state budget also included capital maintenance funds\u00a0for MTSU for Central Plant controls updates.<\/p>\n

The TBR approved a 3.1 percent tuition increase for\u00a0MTSU. New funds from this increase will cover certain\u00a0inflationary costs and the University\u2019s portion of the\u00a0salary increase and provide funds for faculty promotion\u00a0salary increases and efforts to\u00a0ensure that facilities,\u00a0technology, and resources\u00a0are available to support\u00a0student success.<\/p>\n

In June, the TBR also\u00a0approved a system\u00a0compensation strategy that\u00a0institutions will use to submit proposed\u00a0salary increases from the 2 percent salary pool for\u00a0consideration by the board at its September quarterly\u00a0meeting. We have proposed to TBR a cost-of-livingadjustment\u00a0strategy for an across-the-board salary\u00a0increase for eligible MTSU employees using the two\u00a0percent pool of funds.<\/p>\n

The salary increase will be distributed to all unrestricted\u00a0and restricted regular full-time and part-time benefit eligible\u00a0employees and participants in the post retirement\u00a0service program on the payroll as of June 30, 2015.\u00a0Each eligible employee will receive an increase equal\u00a0to two percent of their June 30, 2015, salary or $750,\u00a0whichever is greater. The minimum payment will be\u00a0prorated for part-time employees. These increases will\u00a0not apply to adjunct faculty, temporary employees,\u00a0graduate assistants, or student workers.<\/p>\n

If approved by the TBR at its September quarterly\u00a0meeting, increases will be effective in the October pay\u00a0period but will include retroactive pay to July 1, 2015.\u00a0If grant funding is available, increases for grant employees\u00a0will be charged to the appropriate grant; increases for\u00a0auxiliary employees will come from auxiliary revenues.<\/p>\n

The state legislation again provided funding to match\u00a0eligible employees\u2019 deferrals in the 401(k) plan, which\u00a0may be between $20 and $50 per month, and for\u00a0longevity payments at $100 per year of creditable\u00a0service up to a maximum number of 30 years.<\/p>\n

MTSU leadership will again meet with the TBR\u00a0leadership this fall to discuss budget development\u00a0processes and other issues of interest. The purpose\u00a0is to communicate the successes, challenges, and\u00a0needs of MTSU so board leadership can properly\u00a0convey those matters to various stakeholders including\u00a0regents, legislators, and state administrators. We\u00a0will explain the steps taken to implement our student\u00a0success programs to achieve the goals of the Complete\u00a0College Tennessee Act, the Drive to 55 initiative,\u00a0and the Tennessee Promise, which allows qualified\u00a0students to attend community colleges free of charge\u00a0beginning this fall.<\/p>\n","protected":false},"excerpt":{"rendered":"

The final state budget as proposed by Gov. Bill Haslam\u00a0and approved by the General Assembly included a\u00a0reduction adjustment in state funding for MTSU under\u00a0the Tennessee Higher Education Commission (THEC)\u00a0Outcomes-Based Funding Formula and additional\u00a0enhancement funds for improvements under the formula.\u00a0The net effect was a small state appropriation increase for\u00a0our University. The new budget for this fiscal […]<\/p>\n","protected":false},"author":8,"featured_media":191,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/posts\/1925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/comments?post=1925"}],"version-history":[{"count":1,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/posts\/1925\/revisions"}],"predecessor-version":[{"id":3205,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/posts\/1925\/revisions\/3205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/media\/191"}],"wp:attachment":[{"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/media?parent=1925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/categories?post=1925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/tags?post=1925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}