WVSU on Track for a Balanced Budget
12/6/2011
WVSU On Track for a Balanced Budget
INSTITUTE, W.Va. --
West Virginia State University has developed a plan for a balanced budget for the current fiscal year (FY 2011 - 2012) according to University officials. After reviewing income projections that indicated a shortfall, a decision was made that administrative areas would have to reduce spending.
Activities of the various areas were examined to determine how critical they are to the University's mission and strategic plan. While all University activities are within the scope of the mission and strategic plan, some are more vital than others. The Academic Affairs area is considered the most important because it directly supports the education of students.
Vice Presidents of the administrative areas proposed where the reductions in spending should be made within their departments. Staff members in the Fiscal Affairs Office then reviewed the proposals. They worked jointly with the vice presidents to assure that the items were appropriate for cuts and to determine areas where additional reductions could be made.
The University is one-third of the way through the Fiscal Year that lasts from July 2011 to June 30, 2012. Thus far less than a third ( 29 percent) of the budgeted amount of $20,524,393 has been spent. If the trend continues, WVSU will show that it had a balanced budget for the year.