Central Washington University Board of Trustees February 17, 2023 Action – Fiscal Year 2024 Housing and Dining Rate Approval The Division of Finance and Administration seeks authorization to increase the room-and-board rate up to 6 percent (6%) aggregate for the 2023-2024 academic year (fiscal year 2024). The proposed rate was developed in accordance with the comprehensive Housing and Dining Financial Master Plan. The Master Plan provides long-term strategies to 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 rising costs, aging infrastructure, compounded deferred maintenance, preserve balances in accordance with debt coverage/bond covenants, and to maintain affordability for students. Student stakeholders were consulted including the Housing and Dining Advisory Board and Resident Hall Association with no major concerns. The President’s Budget Advisory Committee, Executive Leadership Team and President support the request. 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 6 percent in the aggregate, for fiscal year 2024. Submitted: Approved for Submittal to the Board:
Joel Klucking
Jim Wohlpart
Vice President, Finance & Administration
President
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