BOT to vote on tuition increase, FY18 athletic budget
April 26, 2018
The Board of Trustees is set to vote on a tuition increase and the FY18 athletic budget at its meeting 1 p.m. Friday in the Grand Ballroom of the Martin Luther King Jr. University Union.
Per state law, tuition for current undergraduate Illinois resident students remains the same for four continuous academic years. Present tuition for FY18 students is $289 per semester hour. If passed, FY19 new students would see an increase of $3, paying $292 per semester hour.
Non-residents would have a 5 percent increase, going from $365 for FY18 students to $370 for new FY19 students.
Regarding the athletic budget, according to regulation IV.J.2.b of the Board of Trustees, up to 1.5 percent of the university’s annual state appropriation can be used to support athletics.
Board approval is needed when these expenditures exceed that number. In FY18, per the board report, the amount of appropriated dollars used to support athletics is projected as 1.6 percent of the state appropriation.
The total budget appropriated and income fund revenue is $78,567,300. The total athletic budget allocated from appropriated and income fund revenue is $1,300,000.
Also on the agenda is a Renewable Energy Center Settlement between Eastern and Honeywell.
In 2009, construction began on a new steam plant to replace the failing one near campus. Since then, the natural gas-fired boilers in the new plant have been providing steam to meet the university’s heating and cooling needs. The Renewable Energy Center Settlement would resolve all “outstanding issues and claims, legal and otherwise, amicably and without assignment of fault or liability to any party,” according to the report.
The university will receive $3,250,000 and would not be required to pay any amounts on the outstanding balance of the contract, which is $1,754,989. The university would also be released from its obligation to pay $7,574,971 as provided in the Energy Services Agreement.
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