{"id":2080,"date":"2024-08-26T00:00:00","date_gmt":"2024-08-26T00:00:00","guid":{"rendered":"https:\/\/www.mtsu.edu\/blogtest\/fall-2024-budget-and-salary\/"},"modified":"2025-03-27T17:19:41","modified_gmt":"2025-03-27T17:19:41","slug":"fall-2024-budget-and-salary","status":"publish","type":"post","link":"https:\/\/www.mtsu.edu\/president\/fall-2024-budget-and-salary\/","title":{"rendered":"Fall 2024 Budget and Salary"},"content":{"rendered":"
<\/div>
\n
\n
\n
\n

The 2024\u201325 General Appropriations Act passed by the General Assembly included a $7.2 million state appropriation increase<\/strong> for MTSU. The final budget included net operating funds of $2.4 million, partial funding for a salary pool of $3.8 million to be distributed at the discretion of the University, and $1 million to cover increases in employee benefits.<\/p>\n

At the MTSU Board of Trustees meeting in June, the board approved the president\u2019s salary recommendation to provide a 2% cost of living allowance increase, with a $750 minimum<\/strong>. Raises were effective July 1 for administrative and classified staff and Aug. 1 for faculty. The president may recommend additional salary increases based on the availability of funding from additional resources this fall.<\/p>\n

The University received nonrecurring funding of $2.1 million<\/strong> to provide continued financial aid for the Medical School Early Acceptance Program<\/strong> jointly administered by MTSU and Meharry Medical College.<\/p>\n<\/div>\n

\n

In addition, the state budget included $2.5 million in capital maintenance funds for one of the 13 capital maintenance projects submitted for funding. The approved project is for campus fire and life safety systems updates<\/strong>.<\/p>\n

The state legislature provided funding for the 401(k) plan for employees who contribute between $20 and $50 per month. That is a maximum match of $50 per month for contributions of $50 or more. In addition, longevity payments were again funded at $100 per year of creditable service up to a maximum number of 30 years.<\/p>\n

At the June quarterly meeting, the MTSU Board of Trustees also approved a more than 5% increase in tuition and mandatory fees for the 2024\u201325 academic year.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The 2024\u00e2\u20ac\u201c25 General Appropriations Act passed by the General Assembly included a $7.2 million state appropriation increase for MTSU.<\/p>\n","protected":false},"author":8,"featured_media":5,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2080","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\/2080","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=2080"}],"version-history":[{"count":0,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/posts\/2080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/media\/5"}],"wp:attachment":[{"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/media?parent=2080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/categories?post=2080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mtsu.edu\/president\/wp-json\/wp\/v2\/tags?post=2080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}