Drafting a budget for a institution the size of Plymouth State University is a time-consuming process with much to consider. Major costs fluctuate from year to year and 2008 is no exception. With economical changes, such as rising oil costs, the university budget planning must allow for unforeseeable cost increases, and those affiliated with the university are those whose pockets take the strongest hit…including students.
Rising tuition costs mainly have to do with rising energy costs. Vice President of Financial Affairs, Bill Crangle, said “Everything is impacted by energy cost. The utility budget mathematically breaks down to $1200 per student, and that is included in mandatory University fees.” Each student at PSU pays $1200 a year for energy…that is a huge cost, but one that the university does not control. “It’s not that we aren’t an energy efficient campus,” said Crangle. “The big problem is peak oil production.”
Although rising energy costs is a problem concerning federal University funding for next year, healthcare is also a concern, and while the impact of a healthcare package mainly affects University faculty and staff, students should be aware that it affects their funds too. “Employees have to take on a larger share, 10-20%, in healthcare,” said Crangle. “It adds up.”
State funding is also a concern when mapping out the budget. “New Hampshire is 50th to receive federal Education funding per capita,” said Crangle. “It is a dilemma that our state government is working hard to remedy, but it’s a constant problem, without federal funding, tuition costs rise, and New Hampshire is last in the country to receive federal dollars.”
Despite some draining costs, PSU won’t be in the poorhouse anytime soon. “Things are going well, enrollment is strong,” said Crangle. “The class coming in is the largest ever.”
The budget for next year has not been passed, but legislature should conclude in June of this year per approval by Governor Lynch. “It’s a two-year process, but we’re at the home stretch,” said Crangle.