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Missouri Western reports $829,198 shortfall; board approves FY27 tuition schedule
Summary
Daniel Holt told the Board of Governors the university stood at $44.4 million in revenues through May 31 and faces a roughly $829,198 shortfall before year‑end transfers; the board approved the FY27 tuition and fees schedule as amended and accepted the May 26 financial report.
Daniel Holt, treasurer for the Missouri Western State University Board of Governors, told the board the university’s revenues stood at $44.4 million through May 31 and that grant collections were lagging at about $5.7 million.
Holt said non‑payroll expenditures are averaging roughly 81% of budget and that payroll and fringe are the principal unknowns heading into July. “We currently are in a shortfall of about $829,198,” he said, adding that the timing of June and July payrolls and fringe charges will affect final year‑end results.
Holt noted several context items: tuition and fees are outperforming budget slightly (he cited tuition/fee revenue about $1 million higher than budget), pandemic‑era federal grants had boosted prior‑year nonoperating revenues, and cash on hand was $7.525 million on May 31, down from about $9.27 million a year earlier. He said the administration is focused on collections to improve liquidity.
On expense drivers he warned that retirement contribution increases (MOACERS) and health‑insurance trends will push payroll costs higher in FY27. He also reported reductions in insurance premiums — an approximate $60,000 decline already realized and an additional roughly $57,000 expected for FY27 — and flagged supplies/services and travel as post‑pandemic cost pressures.
Holt gave a short update on capital and facilities work, including a replacement of the Baker Fitness Center roof (budgeted at about $98,000 and in progress), Potter Theater stage and rigging repairs (A to Z won the $195,000 bid), and an elevator project at Hearns Library funded with remaining ARPA dollars.
After discussion the board moved to approve the May 26 financial report and to approve the FY27 tuition and fee schedule as amended. The motions were seconded and the board voted in favor.
What’s next: the administration will close the year, post final payroll/fringe adjustments in July and report final FY26 results after year‑end transfers. The board also directed continued focus on collections and tracking the FY27 expense impacts of MOACERS and health benefits.
