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Missouri Western board approves FY27 tuition schedule as leaders warn budget pressures persist
Summary
Board approved a FY27 tuition schedule that includes a recommended 10% tuition increase (from $298 to $328 per credit hour) as university officials reported a projected operating loss and lower cash balances, and endorsed retaining auditor Forvis Mazars after a competitive bid process.
The Missouri Western State University Board of Governors voted April 23 to approve the FY27 tuition and fee schedule presented by VP for Personnel, Finance and Operations Daniel Holt, including a 10% tuition increase that would raise the per-credit rate from $298 to $328.
Holt, presenting a March 31 snapshot, said tuition and fee revenue was performing well—about $31.164 million—but auxiliary revenue from housing and dining lagged (about 78% of budget) because of lower on‑campus residency. Operating expenses for the year were reported at roughly $62.12 million (about 80% to budget), with personnel and fringe benefits running higher than planned. Holt said the university currently expects a year‑end operating deficit and noted the institution’s cash position is lower than in prior years, though recent state appropriation timing had improved cash flows. “Cash is king for us right now,” Holt said.
To reduce the need for midyear corrections, Holt said the administration is delaying final approval of the FY27 operating budget until state appropriation clarity is available but recommended the tuition schedule today. He framed the 10% tuition increase as a proactive step given signals from Jefferson City indicating public higher education may move toward a more tuition‑dependent model. “We are recommending at this point a 10% increase in tuition for next year,” Holt said.
The board also approved the auditor selection process recommended by the committee. After a competitive RFP with six responses, Forvis Mazars was recommended for a three‑year engagement; RubinBrown’s bid was lowest in price but—per committee analysis—did not allocate enough hours to complete the scope of work the university required.
What this means: The tuition approval takes effect for FY27 as the administration continues to finalize the operating budget once state appropriations are confirmed. University leaders told governors they expect a shortfall without additional revenue or expense adjustments; summer enrollments and auxiliary recoveries were identified as important risk mitigants.
Next steps: Administration will present a finalized FY27 operating budget after state appropriation guidance and will monitor summer enrollment and auxiliary receipts to reduce projected deficits.
