Community budget meeting outlines changes

Traditional students can expect a 5.9% tuition increase

Caitlin Adams

Issue date: 1/28/05 Section: News

The goal of the budget changes and tuition increases are to increase faculty salaries and end fiscal year ´06 with a balanced budget

Associate Professor of Accounting Raymond Johnson greeted those that walked into the Jan. 19 budget meeting. "Help yourself to food and drinks," he said. "It's in the budget."

The first budget meeting of the 2004-05 year happened Nov. 4, 2004, when aspects of the budget were laid out. The Jan. 19 meeting was to discuss what has transpired since.

"This meeting is to show how the budget process does or does not dovetail with the recently approved strategic plan," said Johnson.

Johnson began his presentation emphasizing the availability of the budget information. "All Guilford community members are aware of the budget, nothing is a secret." Johnson then led the audience of students, faculty and staff through a PowerPoint presentation outlining the proposed budget and process through which it is decided.

The budget committee will now attempt to reach consensus on the 2005-06 budget. The committee will then recommend the budget to President Kent Chabotar. Chabotar in turn recommends the budget to the Board of Trustees for final approval the third week in February.

The proposed 2005-06 capital budget is $4.4 million.

"The bottom line," said Johnson, "is to reach a balanced budget and have a drop in endowment reliance." The goal for financial equilibrium is 2006.

"The budget has successfully absorbed the revenues and costs of the strategic plan," said the President.

By the proposed budget, traditional students will experience a 5.9% increase in tuition. Current tuition, including room and board, is $26,600, rising to $28,170. This would be an additional 1.9% increase above the 4% increase proposed in the Strategic Long Range Plan.

Center for Continuing Education (CCE) student tuition will increase from $229 to $239 per-credit hour.

Upon the mention of this statistic sophomore Adam Waxman immediately questioned the gap between traditional student tuition increase and CCE student tuition increase.

"(The) CCE market is much more competitive," Johnson replied.

Guilford must keep prices lower than the neighboring colleges and universities to keep CCE students. Johnson explained that in the new budget the financial aid plan is larger and restructured.

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