University administrators have already begun looking at raisingtuition prices for the next academic year and will attempt to pegnext year’s increase around that of last year’s,Student Body President Thomas Kincaid announced duringSenate’s regular meeting on Tuesday.
Kincaid and other student leaders met with university presidentR. Gerald Turner and Vice President for Business and Finance MorganOlsen who shared the preliminary information on theirrecommendation to the board of trustees. All tuition changes mustbe voted on by the board that voted last year to raise tuition by7.5 percent. If administrators are able to meet the goal of asimilar increase, students will face tuition of $22,495.45 for the2004-2005 academic year. For the current year, tuition was$20,926.
Last year, university officials cited merit-based pay increasesfor faculty and staff as well as an increase to finance the newDedman center.
“The biggest push this year will not be the Dedman centeror the faculty and staff increases,” Kincaid said.”They’ll be there, but this year our biggest push is[the university’s] endowment.”
The university depends on its endowment, a sum of money on whichthe school collects interest but is never used directly, to coveraround 30 percent of its operating budget each academic year. Thefund grows off of the interest that accumulates over the course ofthe year.
With the downturn of the nation’s economy, the endowmenthas also taken a hit. According to The Chronicle of HigherEducation, SMU’s endowment has lost roughly $100 million overthe past two fiscal years. At the end of fiscal year 2002,SMU’s endowment stood at $831 million, a drop from $911million in fiscal year 2000.
University administrators are hoping to make up some of theendowment’s losses in next year’s tuition increase.
“[Their goal] of keeping [the same tuition hike] is a verylarge commitment from the institution,” Kincaid said.”It will likely lead to budget cuts.”
Currently, tuition makes up an excess of 70 percent of theuniversity’s operating budget.
During the meeting, the Senate also voted to adopt legislationrecommending that the Athletic Department move the student sectionin Ford Stadium from sections 120, 121 and 122 to sections 123, 124and 125. The recommendation, written by Kincaid, Vice PresidentLyndsey Hummert and senators Art Bell, Erika Washburn, Gabe Traversand Andrew Novak also suggests that the Mustang Band be moved toeither end of the section rather than its current spot in themiddle.
After meeting with the representatives of the AthleticDepartment, Bell reported that the bill was not going to bereceived wholeheartedly by its staff. Traditionally, the seatsbetween the 30-yard lines have been reserved for paying ticketholders. Nevertheless, Bell said, that made it all the moreimportant that Senate take a definitive stand.
“At the first game, there were a lot of students there,but they were divided by the band,” he said. “I thinkattendance might go up if students see more cohesion in thesection.”
The bill received a unanimous vote and will now be passed on tothe Athletic Department as the official recommendation of thebody.
“It’s important that we’re addressing thisnow,” Business Senator Todd Kurn said. “If the footballteam improves and attendance goes up, it’s going to be harderto make these changes.”
In other business, the body voted to deny funding for agelato-making class sponsored by The Italian Club. The event, whichis set to occur at a local ice cream parlor, is open to 20 peopleat a rate of $5 per person. The club was hoping to subsidize thisentry fee with money from Senate appropriations.
Last week, Senate Appropriations Committee Chair Les Williamsonpresented a recommendation from his committee that Senate fund the$100 requested, but stipulated that the Italian Club still chargeattendees $5 and deposit all of the money in its reserves.
“In my opinion, [this] looks like we’re funnelingStudent Association funds into the Italian Club account,”said Parliamentarian Adam Hill in a written objection to therecommendation that was rescinded in Tuesday’s meeting.
Also, Student Body Secretary Ashley Earnest announced that shewould be delegating the responsibility of coordinating the revisionof the student code of conduct to Hill, citing personalinterferences.
The revision of the code, which includes stipulations on studentrights and responsibilities, student organizations and greek life,is one of the primary responsibilities of the student senate. Thecoordination of this process is one of the student bodysecretary’s duties.
