An increase in state funding allowed Slippery Rock University’s board of trustees to approve the budget for 2022-23 on Friday with a projected surplus of $73,951.
The decision comes after its finance and administrative affairs committee considered four budget scenarios in June – all with deficits.
The finalized 2022-2023 budget shows a surplus despite its total expenditure of $148 million. Expenses increased by 2.9% compared to last year.
The state budget passed in July included a $200 million investment in student tuition and allocated an additional $75 million to Pennsylvania state’s higher education system.
SRU received $9.7 million through state appropriations, helping to offset a shortfall resulting from declining enrollment and increased spending on services and supplies.
“If we didn’t get Commonwealth funding, we were trying to figure out the best way to survive,” university president Bill Behre said in July. “Now we seek to thrive.”
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