MSU to Incur Additional Expenses for 2014-2015 Fiscal Year
Murray State University interim President Tim Miller says MSU will appoint a budget task force to examine unexpected expenses slated for the next fiscal year.
Miller expects the university to face an added $1.7 million dollars in state pension obligations, and an additional $700,000 dollars in insurance costs for the new calendar year.
Part of the current fiscal year’s budget was based on a 1.5 percent enrollment increase. While numbers are not yet finalized, it appears that level of growth will not be reached.
This budget planning follows a nine month process where numerous campus groups worked to trim the university budget by nearly five million-dollars.