The Omnibus

Issue date: 10/21/04 Section: News

Comment on this article

A revised budget, renovation and a name change for a university building were among 13 resolutions passed during the Oct. 11-12 annual fall business meeting of the Southwest Baptist University Board of Trustees.

According to SBU President, Dr. C. Pat Taylor, the University had a record enrollment of 1,607 students and had 260 employees on its Bolivar campus for the 1999 fall semester. The University budget that year finished on the plus side at close to $1.5 million that year, a situation that prompted a growth in services, facilities and personnel. Since that time, however, student enrollment has dropped and the number of campus employees has grown.

Citing figures for the 2004 fall semester, Taylor said the University has an enrollment of 1,472 students on its Bolivar campus along with a workforce of 301 employees. Taylor says the dip in student enrollment - coupled with the increase in campus services and personnel - has put the University in a serious financial bind. "SBU is operating on an extremely tight budget," Taylor said.

With deficits over $500,000 the past two years, Taylor says the University will have to modify its budget expenditures to prevent such deficits in the future years and said the school cannot continually depend on using its endowment "rainy day" fund to cover future deficits. "We have to scale things back" Taylor said.

The University is now in the midst of a hiring freeze and will continue to look at other cost-cutting measures. Taylor also noted that, due to the present state of its budget, the University would not be able to offer general equity salary increases to its employees this year. Taylor says the University's budget has additionally suffered from the increased cost of insurance, utilities and technology equipment upgrades.

With the University seeking to balance its budget, Taylor noted that a number of other colleges and universities across the country are also facing tough financial situations. Taylor says higher education institutions - including both private and state schools - will continue to face tough financial challenges in the days ahead.

A revised budget, renovation and a name change for a university building were among 13 resolutions passed during the Oct. 11-12 annual fall business meeting of the Southwest Baptist University Board of Trustees.

According to SBU President, Dr. C. Pat Taylor, the University had a record enrollment of 1,607 students and had 260 employees on its Bolivar campus for the 1999 fall semester. The University budget that year finished on the plus side at close to $1.5 million that year, a situation that prompted a growth in services, facilities and personnel. Since that time, however, student enrollment has dropped and the number of campus employees has grown.

Citing figures for the 2004 fall semester, Taylor said the University has an enrollment of 1,472 students on its Bolivar campus along with a workforce of 301 employees. Taylor says the dip in student enrollment - coupled with the increase in campus services and personnel - has put the University in a serious financial bind. "SBU is operating on an extremely tight budget," Taylor said.

With deficits over $500,000 the past two years, Taylor says the University will have to modify its budget expenditures to prevent such deficits in the future years and said the school cannot continually depend on using its endowment "rainy day" fund to cover future deficits. "We have to scale things back" Taylor said.

The University is now in the midst of a hiring freeze and will continue to look at other cost-cutting measures. Taylor also noted that, due to the present state of its budget, the University would not be able to offer general equity salary increases to its employees this year. Taylor says the University's budget has additionally suffered from the increased cost of insurance, utilities and technology equipment upgrades.

With the University seeking to balance its budget, Taylor noted that a number of other colleges and universities across the country are also facing tough financial situations. Taylor says higher education institutions - including both private and state schools - will continue to face tough financial challenges in the days ahead.

Article Tools