WMKY

MSU board passes 2020-21 budget

Jun 18, 2020

Morehead State University's Grote-Thompson Hall
Credit Morehead State University

The Morehead State University Board of Regents voted unanimously to decrease the annual budget by $4.9 million during its quarterly meeting Thursday.

The $135.4 million dollar budget was planned while considering the uncertainties of the COVID-19 pandemic, pension costs, and the economic climate.  $3.8 million has been cut from personnel costs, down 5.4% from the 2019-20 fiscal year. 

Vice President of  Fiscal Services Mary Fister-Tucker says the university has increased the expenditures for instruction by .4%

Morehead State officials expect a decrease in enrollment, considering the uncertainties and fewer number of potential students.  The budget projects a $3.9 million  decrease in educational revenue for the 20-21 fiscal year.