I see a tough year on campus: Regents approve 2024-2025 budget

‘I see a tough year on campus’: Regents approve 2024-2025 budget

Board of Regents passes new budget amidst controversy

In an 8-3 decision, the Board of Regents approved the 2024-2025 budget. This budget implements a new 10% overhead fee on campus auxiliary and revenue-dependent units and sets a 92.5% budget spending target for campus units. Given the budget’s extensive implications on the campus community, Faculty Regent Shane Spiller warned, “I see a tough year on campus.”

Understanding the new budget

The proposed fiscal year 2025 budget stands at $394.2 million, a 1% increase from its 2024 counterpart. However, the approved budget includes a two-year $24 million “budget realignment strategy.” This strategy mandates campus units to spend 7.5% less than their total budget, effectively spending only 92.5% of their overall funds. This decision marked an increase from the previous mandate to spend only 92% of their budget in 2023-2024.

Controversy over budget allocation

While the budget approval marks a decisive move in the university’s financial planning, three elected regents representing the campus community – Faculty Regent Shane Spiller, Staff Regent David Brinkley, and Student Regent Sam Kurtz – voted against its passage, expressing concerns about potential trouble spots in its allocation.

Where will the spending reductions come from?

Spiller’s concerns focused on where spending reductions would originate. Since budget cuts have been prevalent since 2010, he noted that, “There’s not a whole lot of fat left.” This observation was further elaborated upon when he mentioned potential issues with current staffing levels across the campus.

Overhead charges on revenue-dependent units: A controversial move

A salient feature of the new budget includes a 10% overhead charge for auxiliary and revenue-dependent units. These departments, which derive income beyond tuition fees, have historically leveraged the university’s name, brand, and services without making direct payments to the university. Provost Bud Fischer stated, “It’s asking everyone to be in the same realm to pay for what they’re using.”

Looking Ahead

As the campus prepares to adjust to the new budget, understanding its ripple effects remains crucial. Amidst differing viewpoints, President Timothy Caboni highlighted the significance of finding a “fiscal relationship that is fair to the revenue-dependent auxiliary organizations but also to the institution.” He also added that this conversation would continue to evolve over time. The dissolution of using carry-forward funds to fill budgetary gaps, a practice in place since 2005, was perceived as a “tremendous win” by Caboni.

‘A tough year to remember’

As the fiscal year unfolds, the implications of the newly approved budget will become increasingly visible. Reflecting the gravity of the situation, Regent Gary Broady expressed empathy toward departments that had undergone cuts. He encapsulated the sentiment of the situation by stating, “We’re gonna feel the same pain, or maybe a little more, in fiscal year 25, and it may be cut back to a third of that but still an issue in fiscal 26.”


HERE Bowling Green

Recent Posts

Bowling Green’s Mayoral Race Results Are In!

Bowling Green's Mayoral Race Results Are In! Exciting news from Bowling Green, Kentucky! The results…

11 hours ago

Firehouse Pizza Reopens in Bowling Green After Tornado Destruction

Firehouse Pizza Reopens in Bowling Green After Tornado Destruction Good news for pizza lovers in…

11 hours ago

BOWLING GREEN, Ky. – A Night of Chaos Unfolds as Officers Respond to Mental Health Crisis

BOWLING GREEN, Ky. – A Night of Chaos Unfolds as Officers Respond to Mental Health…

11 hours ago

Mountain Fire Ravages Ventura County, Prompting Massive Evacuations and School Closures

Wildfire Devastates Ventura County Communities Ventura County, CA – A raging wildfire known as the…

13 hours ago

Tropical Storm Rafael Poses Potential Rain Threat to Florida as it Moves Through Caribbean

Tropical Storm Rafael Expected to Impact Florida with Increased Rain Chances As Tropical Storm Rafael…

13 hours ago

Vegas Golden Knights Capture Thrilling 4-2 Road Victory Over Edmonton Oilers

Vegas Golden Knights Pull Off Memorable Road Win Against Edmonton Oilers EDMONTON — What a…

13 hours ago