After holding its breath since the Legislative Session ended earlier last month, the university finally knows what’s what for its 2013-2014 operating budget.

The day the 2013-14 fiscal year began (July 1, 2013) President John L. Crain released a statement outlining the “final information” of the university’s finances.  In his statement, Crain breaks down each of the cuts and additions to the campus’ budget; when all is said and done, the university has lost approximately between $2 and $3 million. However, this reduction isn’t as simple as the routine budget cut; as state support is leeched away, costs continue to go up.

“Our share of state-related funds will be about $1.3 million less than last year,” Crain stated. “In addition, our expenses for retirement, health, and risk management contributions will increase about $1.4 million next year.”

A major sticking point for Crain in his statement was the involvement of students in this year’s finances. According to Crain, the enrollment of new freshmen is expected to be similar to last year’s number. However, the university is expecting a 400-450 in returning students due to increased tuition and fees caused by the GRAD Act. According to Crain, Southeastern’s tuition and fees have increased by 70 percent since 2009, and losing students who pay these fees equates to a loss of about $2.5 million.

While these costs are expected to rise by the percentage allotted by the GRAD Act next year, Crain also mentioned another university-assessed fee that students will have to pay.

“Legislation approved in the recent session and signed by the Governor authorizes colleges and universities to assess students a fee to help fund the operation, maintenance, and repair of campus facilities,” Crain stated. “We estimate the fee will generate about $1.2 million for us next year, providing some relief to the operating fund for such activities.”

The university will also receive a chunk from a$10 million “special” appropriation for the University of Louisiana System that was added during the legislative process. However, it is unknown how much Southeastern will receive.

Crain concluded his message by stating that the university will submit it’s final budget plan in the coming weeks and, while operational costs will shrink, he does not expect elimination of any academic degree programs.

The Lion’s Roar will publish an in-depth follow up story on the budget in its July 16 issue with input from the Interim Vice President for Administration and Finance Sam Domiano.