The University’s chief financial officer addressed Undergraduate Student Government Monday night, speaking about the subject of University finances.
Sherideen Stoll, who is also the school’s vice president for finance and administration, presented a six-year report of the University’s general operating budget. In 2018, the University expects to receive about $197 million in student tuitions and fees, $72 million from the state of Ohio in supporting funds and $24 million from other types of miscellaneous in-house investments.
“The takeaway that I think is important if you’re thinking about a budget with this big context: our total available revenue is up about $10 million from 2013,” Stoll said.
She also provided USG with updates on the Master Plan currently in place at the University, specifically regarding residence and dining services. The last project in that section of the Master Plan is the demolition of Harshman Hall, which is projected to occur during either spring or summer 2018.
The final two projects for the current Master Plan include the renovations and additions to Hanna Hall and the relocation of certain groups and departments from the Administration Building before its demolition in the coming years.
Stoll also reported that continuing in-state students will not be seeing a tuition increase for the coming year due to state restrictions. With enrollment projected to flatten or moderately increase, a 2 to 3 percent increase in cost is expected for room and board, but the Falcon Tuition Guarantee plan for incoming classes looks to help to keep prices more stable.
