Wright State hopes to balance budget by 2024


London Bishop - lbishop@aimmediamidwest.com



FAIRBORN — The Wright State Board of Trustees unanimously approved the university’s budget for fiscal year 2022 the morning of June 18. The university presented its budget plan at its Friday meeting, a document that would see the university’s budget balanced in the next three years.

Wright State has budgeted for fall enrollment to 10,600 students, a 9.4 percent reduction from last year. The three-year budget plan projects the university will serve 10,000 students by fall 2024.

The university expects revenue to increase from $210 million in fiscal year 2021 to nearly $227.7 million in fiscal year 2022. The 2022 budget anticipates that state financial support will increase by one percent to $83 million.

University expenses are projected to decline from $241 million in FY 2021 to nearly $238.6 million in FY 2022, but are expected to still outpace revenue during FY 2022 by $10.8 million.

Wright State has cut approximately $130 million from its operating budget in the last five years, according to a media release. The university expects this trajectory to balance its budget by FY 2024.

Wright State President Dr. Sue Edwards said Wright State is creating a “culture focused on meeting the needs of students.”

“At Wright State, we are here standing together to meet our students where they’re at,” she said, “to provide them with access to an affordable high-quality education with experiential learning opportunities that set them apart from all other graduates and onto a path of success.”

The university also received $14.5 million in relief funds for student financial aid grants, as part of the 2021 American Rescue Plan, which President Biden signed into law in March.

Wright State has seen major disruptions caused by the pandemic, Edwards said.

“I am hopeful because we are creating a culture of students first,” she said. “I am hopeful because we are back engaging with our community partners in meaningful ways. And I am hopeful because we have momentum.”

London Bishop

lbishop@aimmediamidwest.com

Reach London Bishop at 937-502-4532 or follow @LBishopFDH on Twitter.

Reach London Bishop at 937-502-4532 or follow @LBishopFDH on Twitter.