The University’s Board of Trustees has approved a balanced budget for fiscal year 2021.
At its regular meeting held virtually on Wednesday, May 20, the Michigan Technological University Board of Trustees voted to approve a balanced budget for fiscal year 2021 that accounts for an $18 million deficit caused by COVID-19. The budget includes a decrease in nonpayroll spending, a six-month pay reduction for employees earning over $60,000 annually and the elimination of 56 open staff positions and 31 filled staff positions.
“As we worked through solutions for the budget shortfall, protecting the excellence of our academic programs was paramount,” said Michigan Tech President Rick Koubek. “We have incredibly dedicated employees, so to take these actions was especially difficult.”
The Board’s Academic Affairs Committee presented a plan for reopening campus in the fall that ensures a safe, on-time, in-person return in accordance with state protocols and health and safety guidelines. Fall tuition will increase 3% for in-state students and 3.8% on average for out-of-state students.
In other business, the Board:
- Approved professor emeritus rank for Dieter Adolphs and Theodore Bornhorst, and professor emerita rank for Ann Maclean
- Approved the following new degree programs: BS in Ecology and Evolutionary Biology; BS in Mathematics and Computer Science; BS in Mechatronics; BS in Robotics Engineering; and BS in Sustainable Bioproducts with concentrations in bioproducts business, sustainable construction, and circular economy
- Changed degree titles from MS in Industrial Archaeology to MS in Industrial Heritage and Archaeology and BS in Surveying Engineering to BS in Geospatial Engineering
- Re-elected Brenda Ryan to another one-year term as chair and elected Jeffrey C. Littmann to a one-year term as vice chair