The Omnibus

Issue date: 5/13/04 Section: News

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A $33.5 million budget, a change in admission standards, a land purchase, a $700,000 budget deficit and tax-exempt leasing...all were topics of discussion during the Southwest Baptist University Board of Trustees meeting May 10-11.

Addressing the faculty and staff of the University on Wednesday this week, SBU President Dr. C. Pat Taylor highlighted 13 action items from the Trustees meeting. Among the items discussed was a change in the University's admissions standards for new prospective students. Starting next year, students applying for admission to SBU will be required to meet two of three established standards. The standards call for a student to have a minimum 2.5 or better grade point average, be in the top 15-percent of their class and post a score of 21 or better on the ACT. The newly revised standards will apply to students filing for admission for the fall 2005 semester.

Also discussed was the purchasing of 7.5 acres of land for the University's Salem campus. The cost to acquire the land will be around $100,000. According to Taylor, close to $75,000 of that cost has already been raised thanks to contributions from private donors.

Tax-exempt leasing was another significant issue discussed by the Board. This type of leasing, which will be conducted between SBU and Bank of America, will allow the University to purchase items like air conditioning units and others at a low rate of interest over a multi-year period. The Trustees also voted to increase the University's line of credit with Bank of America.

Another subject addressed by the Trustees was the issue of increasing costs for the University. According to Taylor, the University has seen its insurance costs rise significantly over the past two years. Health insurance alone for University employees was listed at over $1-million dollars collectively for the coming year.

According to Travis Jones of Empire District Electric Company, the University will also see a significant increase in its electricity costs as well.

Empire, the electricity provider for SBU and the city of Bolivar, says it will increase its electricity costs by 14-percent in the coming year.

Additionally, the University has seen cost increases for general supplies like paper products, technology upgrades for computers and for other goods and services.

In regard to the school's overall budget, Taylor said the University had appropriated a budget of $33.5 million for the 2004-2005 school year. He said the University's goal for the coming year was to balance the school's budget. Last year, the University realized a budget deficit of about $850,000 and had around a $700,000 deficit this year. The President said cost cutting measures have been implemented by the University both this year and last. He said increases in both student enrollment and on-campus housing populations in University residence halls, campus apartments and houses would help the University greatly in keeping tuition and other costs down. As of this week, the University had an on-campus enrollment of about 947 students, including 578 female students, 369 male students and 377 incoming freshmen. The school has an on-campus housing capacity of 1,125.

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