CHARLESTON, W.Va. –Officials from Marshall University going in front of legislators Friday morning to present their fiscal year 26 budget.
Marshall University president Brad Smith and Matt Tidd, the university’s Chief Financial Officer gave a budget presentation in front of the House Subcommittee on Appropriations.
Smith started the presentation highlighting what Marshall has been able to achieve since enrollment has been going up.
He said that they have making sure that the university invests into things and majors that are in high demand.
“We are making sure that our curriculum is lined with what is in demand in our local economy, we’re making sure our classrooms our now available on demand with technology, and last but not least we’ve chosen where we’re going to be distinctive,” Smith said.
They have chosen to invest in six different pillars, including cybersecurity, healthcare, advanced manufacturing, energy, aviation and entrepreneurship.
Marshall University’s Chief Financial Officer Matt Tidd said that the state’s appropriations make up 21% of the university’s budget which is valuable to them.
“Our appropriations have stabilized and grown over the past five years, and that budget certainty is very valuable to our institution,” Tidd said.
He said that their biggest expenses are the hiring of people and supplies and other services.
However, right now he said that the university has come up with two strategic financial in initiatives that have helped and will continue to help the university safe money.
“First is our campus wide save and serve initiative, that has a goal of 14 and half million dollars of savings over the next several fiscal years by acting on saving opportunities, spending habits and identifying areas of waste on campus,” Tidd said. “And our second priority is the implementation of an incentive budget model that’s going to align our university resources better with our strategic goals, it’s going to create a culture of transparency, responsibility and accountability.”
Along with these initiatives enrollment has gone up 12%, and Smith contributed that to the metro rates which they expanded 150 miles and 100 counties within Kentucky and Ohio. He said that they were able to make it so that the metro tuition is lower compared to institution in their area but a little higher than in-state tuition.
Smith says that they have been able to invest back into the university, with Marshall for All: Debt Free and Marshall for All: Tuition Free WV because of collaboration.
“Together we educate, we innovate, we collaborate not only with you (legislators) but with our higher education peers and with employers in the region,” he said.
Smith closed out the presentation by adding on something’s to the budget that the university would like to be included into the budget that they get from the state, including Vista E-Learning, funding for the West Virginia Brownfields Assistance Center at Marshall University, and the Rural Outreach Program.
He acknowledged that the state is under a financial strain, however he assured legislators that the money will be used to invest back into the university.
“We want to be a part of the solution and not the problem, so we have aligned every effort on this campus to turn colleges into proforma’s like we would in the private industry, and we’re going to invest in those things that are returning for the students and the families we serve and for the state that we serve,” Smith said.