With a statewide tuition freeze and low state appropriations, Miami University is looking at a constrained budget for 2009, according to Vice President of Finance and Business Services David Creamer.
At its June 20 meeting, the Board of Trustees approved a budget of $676.9 million for the 2008-09 fiscal year. This is only a .1 percent increase from the $676.8 million budget that was approved for FY2008.
Creamer said the Oxford campus will end FY2008 with a $1 million deficit at the Oxford campus.
He said surpluses from other funds, as well as job vacancies that naturally occur throughout the course of the year, will account for part of the $3 million reduction in ongoing operation costs that was approved as part of the FY2009 budget.
Creamer, who recently came to Miami from Kent State University, said he has enjoyed his time in Oxford thus far.
"It really has been a good experience for me," he said.
The Board of Trustees also approved a new mission statement for the university that is focused on the theme of "An Engaged University." The statement can be viewed online at http://www.miami.muohio.edu/about_miami/mission/.
Additionally, contracts worth $2.3 million were approved for high-end audio visual equipment to be used in the new Farmer School of Business building.