This website is best viewed in a browser that supports web standards.

Skip to content or, if you would rather, Skip to navigation.

Listen Live
Donate
MARYVILLE

KXCV-KRNW


News Brief

June 20, 2019Maryville, MO |  By: John Coffey

Board of Regents approves 2020 budget with 2% COLA increase

The Northwest Missouri State University Board of Regents approved the fiscal year 2020 budget during Thursday afternoon's meeting on the Northwest campus. Vice-President of Finance, Stacy Carrick, says she feels good about the way the upcoming budget came together.

"Our education and general budget is right at $98 million and our auxilliaries service budget is about $25.3 million.  So those are good, strong numbers.  The enrollment is at the 7157 and we are investing 2% in COLA for our employees as well as moving employees that are below 92% of the market to 92% of the market."

Carrick says the 2020 budget includes an additional one million dollars in money approved by the Missouri General Assembly.

"There's always a 3% withhold, so we'll see about $970,000 of that, as long as there are no expenditure restrictions throughout the year.  So those funds helped us insure that we could do the 2% COLA for our employees.  Also, it allowed us to invest in an academic position and a student success center position. We also earmarked some of that money into one-time funds."

The Northwest Missouri State University 2020 fiscal year budget goes into effect on July 1st.