A proposed $440.7-million budget for the 2014 fiscal year and formal approval of the College of Medicine East campus in Saginaw will be discussed Thursday when the Central Michigan Board of Trustees holds its quarterly meeting.
The proposed budget has been cut from the $441-million budget unveiled from last year’s budget and will once again rely on the use of reserve accounts.
“Colleges and service units will use some of their one-time carry-forward funds from years to offset the shortage” created by a decline in fall enrollment, the university said in a news release.
CMU anticipates a 5-7 percent drop in on-campus undergraduate enrollment, which is expected to cause a $12 million general fund deficit and a $6 million auxiliary fund deficit, according to an email sent out to faculty and staff last month.
According to a university news release, colleges will also hire fewer fixed-term faculty and some staff and tenure-track faculty vacancies will not be filled.
Additionally, the board will vote on final approval of the College of Medicine Saginaw Phase I facility, a two-story, 52,100-square-foot structure which will be built on the campus of Covenant HealthCare.
The project will cost $25.2 million, and funding will come from CMU reserve funds, CMU medical educational partners and fundraising. In May, the board met for a special, one-item meeting where the final $350,000 was approved for the planning of the project.
The CMED East facility will serve as a place for CMED students to complete their residencies in their third and fourth years of medical school.
The board will also consider a project in collaboration with the city of Mount Pleasant to connect East Campus Drive to Mission Street in order to ease traffic.
Additionally, it will also discuss a proposal to design and construct an east campus utility loop which will not exceed $5.4 million consisting of 1,330 linear feet of 16” steam and 8” condensate lines. If approved, funding for the project will come from university reserves.
The board will meet at 8:30 a.m. Thursday at the President’s Conference Room on the second floor of the Bovee University Center.
Additionally, two committee meetings, which will also take place in the President’s Conference Room, will take place Wednesday afternoon. Among other topics, trustees will discuss the university’s enrollment management plan during the Academic and Student Affairs Committee meeting at 3:45 p.m. and the proposed Kelly-Shorts Stadium hotel project at the Finance and Facilities meeting at 2:30 p.m. Neither will be voted on.