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Michigan Athletics continues its growth and investment strategy.
The fiscal year 2014 general fund budget for the UM-Flint campus includes modest increases in tuition and fees and housing rates for the coming academic year. The budget was approved June 20 by the Board of Regents.
The general fund budget for the fiscal year beginning July 1 will be $102.1 million. The budget reflects an increase of $3.7 million over the previous year, with $825,000 of the increase coming from state funding.
Included in the UM-Flint budget is a 3.5 percent increase in undergraduate tuition and fees, and a 3 percent increase in graduate tuition and fees. A typical in-state, full-time freshmen student with 15 credit hours will pay an average of $4,922 in tuition and fees per semester in the coming year. The cost of tuition and fees for graduate students varies from program to program. The budget also includes a 5.5 percent increase in institutional financial aid.
Room and board rates for the First Street Residence Hall were increased 2.7 percent.
“The approved budget is vital as the university continues to grow,” said Chancellor Ruth J. Person. “We are in the midst of launching important initiatives from the campus strategic plan that will enhance the outstanding academic experience at UM-Flint.”
The strategic plan priorities that are underway will continue during the coming fiscal year. The areas identified for investment include:
• Increased experiential learning opportunities for students.
• New academic program development.
• International student recruitment.
• Continued recruitment and support of student veterans.
• Planned growth in the number of dual-enrollment programs offered to high school students.
• Implementation of the Student Success Center on campus.
UM-Flint continues to assess and target cost-containment opportunities. Through restructuring over the last several years, the university has realized ongoing cost savings in employee health care. In the area of utilities, changes in infrastructure have helped to bring about energy efficiency and further cost savings. Most recently, the installation of new boilers will save the university approximately $133,000 annually.
“Our continuing efforts to contain costs are having positive results,” Person said. “Between energy savings and some debt restructuring we expect nearly a half million dollars in savings in the coming year. In fact, our utility bill for the coming year will be lower than last year.”
