Murray State Budget

Chad Lampe

Murray State’s Board of Regents has set the university’s budget and it includes a five percent tuition increase for the upcoming school year. The increase, with added fees, ups the cost for attendance for full time in-state students by $174.00 per semester (*correction we inaccurately reported the increase for the academic year). The increased tuition is estimated to add $4.9m to the operating budget. Housing rates will also rise four percent.

Murray State University’s Board of Regents is poised to approve its annual budget at its quarterly meeting Friday.  MSU’s leadership team has spent another year looking to cut expenses and find more revenue as state funding continues to decline for state universities.

Murray State University Interim President Tim Miller is looking to $2.5m in cuts and a possible tuition increase to fix a predicted $5.7m budget shortfall  in the coming year.

EKU Logo

While Eastern Kentucky University is working to cut spending by $23 million, its Board of Regents will promote early retirements to before instituting layoffs. Chairman Craig Turner says a plan the regents approved Tuesday morning offers incentives to professors willing to work part-time and staff members who qualify for early retirement.

“The objective here again is to treat everybody as fairly as possible, providing incentives for them to potentially retire, and based upon those numbers, then that will determine how deep cuts go on the reduction plan itself,” Turner said.

Uncertainty has shrouded Murray State University during the last six months as ongoing questions surround the future of the president‘s contract and the university’s budget.  In August Murray State’s Board of Regents charged President Randy Dunn to conduct a full review of the University’s budget in attempt to find cuts, efficiencies and new revenue. All the while, Dunn has been pressing the board of regents to extend his contract, which expires in 2014. The board is required to take action by June 2013, but could do so at any time.  In the meantime Dunn has said that he will continue to seek “exceptional “ career opportunities available to him until the board decides to take action on his contract.