By Katie Quaranta
Gov. Ted Strickland signed an interim state budget Tuesday that takes effect today, the beginning of fiscal year 2010.
The Senate had approved the seven-day interim budget on Monday; House members followed suit on Tuesday. The budget will be in place through July 7.
Ohio University officials are monitoring developments at the Statehouse and are awaiting the final budget from the state.
"We continue to watch Columbus closely as lawmakers and the governor work together to set priorities in a very challenging fiscal environment," said President Roderick J. McDavis.
The Ohio University Board of Trustees approved a budget resolution on Friday that gives McDavis, in conjunction with the chair of the Board of Trustees, the power to make adjustments should the state legislature's final biennial budget differ from the one introduced by the governor in February. That budget had called for a statewide increase of 6 percent to the State Share of Instruction (SSI) for higher education, with an outcomes-based funding formula determining how much each university would receive.
Because of its strong graduation and course-completion rates, Ohio University based its upcoming budget on the assumption of receiving a 4 percent increase in SSI funds.
The $684 million university budget for fiscal year 2010 currently allocates more than $18 million in additional funding for strategic initiatives, including $5.2 million in scholarships and financial aid, $4.1 million to support a new Student Information System (SIS) and upgrades to the university's network infrastructure, and $2.3 million for Vision OHIO projects such as Arts for Ohio, a new four-year nursing degree program, learning communities and the Allen Student Help Center. It also outlines the allocation of $30.4 million in general fee revenues to various university departments.
To read more about Ohio University's budget, see www.ohio.edu/outlook/08-09/June/722.cfm.