Central Washington University Board of Trustees February 16, 2024
Action – Fiscal Year 2025 Housing and Dining Rate Approval The Division of Finance and Administration seeks authorization to increase the room-and-board rate up to 3 percent (3%) aggregate for the 2024-2025 academic year (fiscal year 2025). The proposed rate was developed utilizing a comprehensive Housing and Dining Financial Master Plan. The Master Plan provides long-term strategies to fund debt service on buildings, fund building preservation and program enhancements, to address the asset renewal backlog, and to cover costs associated with large inflationary pressure including labor, utilities, and cost of goods. This increase represents a balanced approach to offset financial difficulties due to decreased enrollment and rising costs while preserving balances in accordance with debt coverage/bond covenants, and to maintain affordability for students. This proposal does not address ongoing financial challenges due to aging infrastructure, and compounded deferred maintenance, Student stakeholders as well as shared governance campus stakeholders were consulted with no major concerns.
We recommend the following motion:
The Board of Trustees of Central Washington University hereby approves the Housing and Dining maximum rate increase, not to exceed 3 percent in the aggregate, for fiscal year 2025.
Submitted:
Approved for submittal to the Board:
Joel Klucking
Jim Wohlpart
Sr. Vice President, Finance and Administration
President
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