July Board of Governors Meeting – FY 2019 Operating Budget and Salary PoliciesJuly 9, 2018
As you will recall, given the state appropriation uncertainty that existed at the time of the June 16 meeting of the Board of Governors, the Board approved a Fiscal Year 2019 Operating Budget developed using the appropriation recommended by Governor Greitens in the Executive Budget (a 7.73% decrease to the core appropriation for higher education). In late June, Governor Parson signed the FY 2019 appropriation bills approving the legislature’s budget which maintained higher education funding at the FY 2018 level after withholding (with no performance-based funding component). At a conference call meeting held earlier today, the Board approved a revised budget resolution reflecting the increase in state appropriations.
Although the FY 2019 state appropriation is flat to the FY 2018 appropriation (which was a 9% cut from the FY 2017 appropriation), the reallocation work we did together during the spring semester has provided us with the ability to do a salary increase greater than the 1% discussed at the February All-University Address. I am happy to report that also at today’s meeting, the Board approved Salary Policies for FY 2019 which reflect a 3% raise retroactive to July 1, 2018 for those under contract on August 1 who are not already under contract for FY 2019. Contracts and salary letters will now be prepared and are expected to be issued on or soon after July 30. Adjustments for the FY 2019 increase, including the retroactive increase, will be reflected in August paychecks.
We are very appreciative of the work of the legislature and the support of the Governor in restoring funds to higher education. We are also very appreciative of the Board in supporting our reallocation efforts, enabling us to increase the level of compensation for our faculty and staff even in these challenging budget times.
Thank you for your commitment to making Truman even better and I wish you relaxing and joyful times for the remainder of your summer.