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Cameron FY 2024 budget crafted to align with five-year strategic plan; expenditures decrease while state appropriation is increased

Cameron University enters the 2023-24 academic year by completing the last projects to meet strategic planning goals established in “Plan 2023: Ambitious Goals for Growth, Innovation and Engagement” while establishing the path toward the next strategic plan.

The key goals of this plan are used to assign budget allocations and to make budget decisions. Actions and initiatives to advance those goals include expanding operations at the Student Enrichment Center to provide supplemental advising, financial literacy counseling, career mentoring and internship placement; centralizing tutoring labs on the Lawton campus in Nance-Boyer Hall and the Eugene D. McMahon Library for extended hours of operation and increased student convenience; and increasing student financial support. Additional initiatives include the expansion of engineering opportunities for students and employers in the Lawton-Fort Sill community and the implementation of a student experiential portfolio to record service, awards, and work experiences to complement the academic transcript.

Total projected revenue for fiscal year 2024 is $42,325,766, which includes a $1,454,010 increase in state-appropriated funds. Overall revenue is projected to decrease due to the expiration of the federal Higher Education Emergency Relief Fund and a decrease in enrollment revenue associated with a 50 percent reduction in distance learning academic services fees. Supporting students and employees during an increased inflationary period remains an institutional priority for FY 2024. All employees will receive a cost-of-living adjustment, and instructional staff will receive additional compensation adjustments based on merit.

University expenditures will decrease by $3,336,327 from FY 2023 to counterbalance the corresponding decrease in budgeted revenues. The decrease is achieved from reductions in vacant employment positions to balance staffing with student enrollment.

“We are appreciative that our state appropriation increased by almost $1.5 million dollars to fund employee compensation changes, and we continue to identify cost-cutting efficiencies that allow us to direct more resources to provide a high-quality education to Cameron students,” says Dr. John McArthur, president. “I’m happy to say that we have been able to increase student scholarships and tuition waivers by $470,000, because students continue to face increasing costs in their everyday lives. Our goal is to help our students graduate with as little, if any, debt as possible.”

In this FY 2024 budget, Cameron’s administrative expenses of 11.1 percent of all expenses represents an increase from FY 2023 yet is still below the administrative cost guideline of 13 percent for regional universities established by the Oklahoma State Regents for Higher Education. The university continues to be committed to maximizing the portion of the budget allocated to instruction, academic support, student services, and student scholarships and waivers while minimizing the portion of the budget used by administrative departments.



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