The proposed increased housing rates for Fall 2012 and a fire sprinkler system expenditure of almost $1 million will be presented to the Board of Trustees for approval today.

The Board of Trustees is scheduled to meet at 1 p.m. today in the Grand Ballroom in the Martin Luther King Jr. University Union.

Lowest housing increase to be voted on

Mark Hudson, the director of housing and dining, said they are proposing a 3.25 percent increase for the room and board rate, which is the lowest increase in about 20 years.

The room and board rate increase last year for Fiscal Year 12 was 3.5 percent, and the rate increase was 6.5 percent for FY 11.

If approved, students living in the residence halls and Greek Court in Fall 2012 would pay an increase ranging from $128 to $145 depending on their meal plan.

The rent for students living in University Apartments would increase 3 percent and would increase by about 1.5 percent in University Court, Hudson said.

Those housed in University Apartments would pay an additional $13 or $14 per month for rent, and students in University Court would pay $35 to $52 extra depending on the contract and room type.

Hudson said the increases are inflation driven as the cost of labor and food increases.

New alarm system to cost almost $1 million

The board members are also scheduled to vote on the $997,788 expenditure for the installation of fire sprinkler systems in Ford, McKinney and Weller halls. The expenditure also includes fire alarm system upgrades.

The sprinklers would be located throughout the buildings, including the rooms, hallways and bathrooms.

The university has periodically installed fire sprinkler systems in the residence halls, Greek Court and University Court for about 13 years.

“The first building to have the sprinklers installed was Pemberton Hall in 1999,” Hudson said. “In 2002, the state legislature approved a law stating that all residence halls must have sprinkler systems by Jan. 1, 2013.”

The upgraded alarm system has a speaker system with an automated voice instead of a loud horn, Hudson said.

“A voice will sound to instruct students to leave the building during a fire, but also has different instructions for severe weather and other campus emergencies,” Hudson said.

If approved, construction would begin in the three residence halls during the summer.

Eastern earns on investments

The Fiscal Year 2012 deposit and investment report, which provides information about where university monies are and how they are being invested, will be presented for board review.

Treasurer Paul McCann said the deposit and investment report consists of investment information from university operating funds, which are received monies to operate the university, and endowment funds, which are gifted monies.

According to the report, the interest earned on operating fund investments between July 1 and Dec. 31 was $16,246.

“From a percentage standpoint that is huge, but from an interest rate standpoint it does not affect the interest earned much,” McCann said. “It has dropped because of the state of the economy as a whole.”

Rachel Rodgers can be reached at 581-2812 or [email protected].