Budget Committee 2005-2006

Budget Committee

2005 - 2006 Members:

  • Rebecca Kaenzig (Accounting)
  • Chuck Pier (Accounting)
  • Susan Staub (English)
  • Mark Strazicich (Economics)

Budget Committee's Annual Report for 2005 - 2006

During 2005-2006, the Budget Committee had two meetings with senior administration (Tim Burwell and Jerry Hutchens). Mark Strazicich researched information on campus based tuition increases and faculty salaries. Mark Strazicich attended a meeting of the ASU Foundation Board on April 27, 2006. The activities are briefly summarized as follows.

1. Meeting with Tim Burwell, Vice Chancellor for Academic Affairs, October 3, 2005. Discussed funding of new programs, summer session funding, and state tuition increases. (See report in minutes of Senate meeting.)

2. Meeting with Jerry Hutchens, Interim Vice Chancellor of University Advancement, February 1, 2006. Discussed some background and recent activities of the ASU Foundation. We invited Jerry Hutchens to speak and take questions at a Faculty Senate meeting and he accepted. (See report in minutes of Senate meeting.)

3. Mark Strazicich researched and reported on faculty salaries and campus based tuition increases. ASU is committed to bringing faculty salaries to the 60th percentile of salaries at 129 peer institutions. This will be accomplished in two steps and take two years to complete. (See report in minutes of Senate meeting.)

4. Mark Strazicich attended the ASU Foundation Board meeting held on April 27, 2006. The Foundation has net assets of about $70 million. During the past year, the net assets increased by about $7 million. The investments made by the fund returned about 11% in the past year. The Chancellor reported that the admissions rejection rate at ASU is rising. In addition, the average quality of student applicants is increasing and the number of applications from minorities is increasing. Budget requests have been made for new capital projects, including a new College of Education building and new Allied Health building. Funding issues remain a challenge. In spite of recent campus based tuition increases, ASU will be tied with UNC-Wilmington for last place in terms of funding per student.

Budget committee plans for 2006-2007:

1. Invite Jerry Hutchens to speak and take questions at the Faculty Senate in Fall 2006.
2. Continue to monitor progress on faculty salary increases as compared to our peer institutions.
3. Discuss and decide on whether one or more members of the Faculty Senate should regularly attend Foundation Board meetings.