Central Washington University Board of Trustees October 18 th , 2024 Action – Fiscal Year 2025 Budget Approval
Central Washington University’s anticipated operating revenue for Fiscal Year 2025 will be approximately $248 million, up 1.5% from the prior year actuals. Compared to the prior year, the increase in revenues is due to higher state appropriation for faculty & staff COLAs and other programmatic investments and slightly higher residential occupancy than the prior year. Lower overall enrollment partially offset these revenue increases and general inflation is putting pressure on our net operating margin. The FY25 operating budget reflects the efforts that have been made across the institution to calibrate our staffing levels to enrollment levels. Our overall operating wage & benefit costs are flat compared to the prior year, despite absorbing a 3% across-the-board wage increase and related benefit costs. We will continue this effort, and that is reflected in our assumptions embedded in the FY25 operating budget.
We recommend the following motion:
The Board of Trustees of Central Washington University hereby approves the proposed budget for Fiscal Year 2025 as presented.
Submitted:
Approved for Submittal to the Board:
Joel Klucking, Vice President Business and Financial Affairs
Jim Wohlpart President
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