REGENTS GIVE OK TO $60.3 MILLION BUDGET

The Southeast Missouri State University Board of Regents Friday approved a $60.3 million operating budget for fiscal 1997, which begins July 1.

The regents also approved auxiliary budgets totaling $15.1 million for 11 units designed to be self-supporting operations. The largest part of that budget is $8.4 million for residence life, which includes campus housing.

The new operating budget includes merit-pay salary increases.

The budget includes $38.2 million in state funding and $20.3 million in student fees.

State funding accounts for 63 percent of the university's total operating budget and student fees 34 percent, said Dr. Ken Dobbins, executive vice president.

Salaries and benefits account for $41.4 million or 63 percent of the operating budget.

Dobbins said the percentage is lower than at many schools, where such expenses can total as much as 75 percent of the budget.

Equipment and operations total another $22.6 million.

"We have been very frugal in what we have funded," Dobbins said.

The academic affairs division accounts for the bulk of expenses at $32.9 million. Institutional services is budgeted at $12.9 million; finance and administration, $12.3 million; and student affairs, $2.3 million.