UM-Dearborn Budget 2008-09
June 20, 2008
Yesterday afternoon the University of Michigan Board of Regents approved the UM-Dearborn campus budget for the upcoming fiscal year, a budget that continues to support our commitment to provide the excellence of the University of Michigan and deliver impact as an educational leader and partner for the people, organizations, and industry of metropolitan Detroit.
Primary commitments of the campus that guided our budget decisions include: our emphasis on maintaining and enhancing the quality of our educational programs; our goal of providing more access to our programs for the students in our region by increasing institutional financial aid; and our commitment to maintaining the positive working environment that allows us to attract and retain talented faculty and staff members.
There is uncertainty surrounding the actual UM-Dearborn state appropriation increase because the Legislature has not yet finalized its FY2009 appropriation budget. We have budgeted for a 2% increase over the 2007-2008 actual budget, for a total state appropriation of $25,800,900. Even with this potential increase, our state allocation will be $2.2 million less than our 2001-2002 state appropriation amount ($8 million less in inflation-adjusted figures).
As a result of the cumulative effects of the decline in state appropriations, and in order to maintain the excellence of our educational programs, we have determined that our tuition rate needs to go up by 6.5% for undergraduate students and 5% for graduate students.
Given our objectives above, I am pleased to report the following key figures associated with the 2008-2009 budget.
An important component in this budget is a large increase in our financial aid resources, from $4,363,309 in 2007-2008 to $5,118,609 in 2008-2009. This amounts to more than a 17 percent increase in institutional financial aid. This increase supports the goal of enhancing the accessibility of the campus for students who qualify for admission.
Additionally, one of the most important aspects of the budget is our commitment to retaining and attracting talented faculty and staff members. This year, the total merit salary pool included in this budget is 4%, with individual increases to be determined by the merit review process. I am pleased that we were able to increase our merit pool, as this will better allow leaders to recognize faculty and staff achievement.
Finally, the budget includes new resources for academic programs and initiatives. 4.5 new faculty lines and enhancements to academic programs represent an additional amount of $800,000 in next year's budget.
We are confident that this year’s budget will help us meet our goals. I am most grateful for the dedication and hard work by all our faculty and staff as we continue to succeed in fulfilling our metropolitan mission. And I am appreciative of the work of the University Budget Committee for its hard work in assisting the development and refinement of the coming year's budget.