Core Value 3: Stewardship Goal 3: Implement values-based budgeting to ensure the efficient and effective use of fiscal resources and the long-term fiscal sustainability of the university. EVP Klucking gave a summary of the Fall 2024 confirmation velocity for First Time in College students and transfer students. We are outperforming all previous years in non-resident confirmations, which includes all types of students. He then shared disaggregated date on applications, admits, and confirmation yields by race/ethnicity and high school GPA. We are heading towards a Hispanic Serving Institution, so the increase in Latino/Hispanic students is understandable. This is happening nationwide. The FY 2024 final budgets (preliminary) in the state and local general funds and system funds were summarized.
EVP Klucking then detailed the Fiscal 2025 key budget drivers, which include: • 8700 Student Headcount (1600 FY; 700 TR) • 2175 On-Campus Residents • 6700 Ellensburg Campus • COLAs and Healthcare Costs • Enrollment Contingency Planning for State General ($1M) • Staff Vacancies (Wage & Benefit Savings) Planning for the Fiscal 2025 budget in the State and Local General Funds includes: • State funding increase. • Tuition based on 8700 students. • All filled positions • Approved vacant positions. • $1M enrollment contingency (200 students) • Anticipated goods and services savings • Anticipated vacancies Planning for the Fiscal 2025 budget in the System Funds includes: • Room and board based on 2175 students. • Filled positions. • Approved vacant positions. • No major repairs or improvements
VP Morse presented on Values-Based Innovation and Revenue Opportunities. He reported that the American Council of State Colleges and Universities (AASCU) describes regional comprehensive universities as engines of upper economic mobility for their students and regions. They evolve to meet the distinct education and workforce needs of the region. They enroll a disproportionately higher percentage of low income, first-generation, working adults, veterans, and racial/ethnic minorities. They are recognized as “stewards of place” for their commitment to service.
3 Board of Trustees Minutes July 25-26, 2024
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