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Board hears strong financial results through February; grants team secures $1.2M in competitive awards
Summary
Board received a finance committee update reporting $51.1 million in year-to-date revenue, $44.5 million in expenditures through February and approximately $38.5 million in fund equity; leaders also highlighted winning $1.2 million in competitive WTCS grants, up from $700,000 last year.
Trustees heard a finance and campus update at the March 16 meeting that presented Midstate’s financial position through February and recent grant wins.
Finance staff reported year-to-date revenue of $51.1 million, representing 87.8% of the annual budget, and total expenditures of $44.5 million (64.9% of the annual budget). Institutional and student-fee revenues were reported ahead of benchmarks, and staff described the overall position as strong with fund equity across all funds near $38.5 million. Committee members noted $7.5 million in debt proceeds recognized to support capital activity already in the current fiscal year.
Dr. Shelley updated trustees on campus engagement and recruitment: four campus advisory meetings drew 73 community participants overall with the Stevens Point campus showing the highest turnout; Wisconsin Rapids attendance lagged behind RSVPs. She also announced a partnership with Yavapai College enabling a three-year bachelor’s pathway and credited the grants team for securing $1.2 million in competitive WTCS grants — an increase from $700,000 in the prior year.
Trustees praised the grants team and staff said they will bring the operational budget to the board in May with details on fund-balance use and any required adjustments.
