Central Washington University Board of Trustees May 16, 2019 EXECUTIVE SUMMARY INFORMATION – Budget Update With the state legislature completing their business on time, we are able to present the Board with a preview of the FY20 operating budget, and a comparison to the FY19 forecast. The presentation also discusses budgetary drivers such as projected enrollment and retention, as well as planned tuition and fee rates. Based on these drivers and current assumptions, we anticipate that CWU’s FY20 operating revenues will increase 6.4 percent over the current year due to increased enrollment and increased funding from the State of Washington. This also includes the favorable impact of opening Dugmore Hall, a 402-bed residence hall, and the adjacent dining facility. However, we anticipate operating costs will increase 7.4 percent, due primarily to faculty and staff wage and benefit increases, a 12.5 percent increase in the minimum wage, and the $2.5 million bond payment and operating costs related to Dugmore Hall and the adjacent dining facility.
Submitted by:
Approved for submission:
Joel Klucking, Vice President Business and Financial Affairs
James L. Gaudino
President
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