Everything Nac

Stephen F. Austin State University regents met to discuss various campus initiatives, approving policy revisions and hearing reports during their recent quarterly meeting.

Judi Kruwell, interim vice president of finance and administration, gave a report on the 2022 budget status and an analysis of changes. She explained the previously reported budget deficit of $19.2 million has been revised to $8.6 million after taking into account contingency expenditures in the budget, housing revenues, investment earnings and other nonbudgeted revenue streams.

Kruwell also reported:

Auxiliary revenues are projected to exceed the budget by $2.2 million.
The FY21 ending Unrestricted Net Position of 53.5% exceeds policy requirements by 40% with excess UNP funds primarily consisting of CARES funding received in FY21.
The FY22 operating revenue budget assumed a 5% reduction in mandatory tuition and fee revenue; FY22 projected actual Mandatory Tuition and Fee revenue is estimated to reflect a 6% decrease from FY21.
The FY22 budget-to-actual analysis is due in April.

Enhanced budget reporting designed to provide added transparency will more closely align with annual financial reports.

“We want to be able to provide the information that we need in a more timely manner in order to be able to respond to trends that need to be addressed,” Kruwell said.

Regents also approved revised room and board rates for FY23. After completing a fair-market research assessment that examined similar institutions and other factors, regents approved the 5.0% increase in board rates, excluding dining dollars, and a 4.0% increase in on-campus room rates.

Regents also acknowledged the receipt of annual financial reports from institutionally-related entities.

Regents heard reports from SFA President Scott Gordon; Dr. Brian Uriegas, chair of the Faculty Senate; Megan Weatherly, Staff Council chair; and Lauren Roach, Student Government Association president. Regents also approved:

minutes from previous meetings
grant awards totaling $81,068,198
policy revisions

To view recorded meetings of the SFA Board of Regents, visit sfasu.edu/about-sfa/board-of-regents/meeting-information.