ASU System Board of Trustees approves $402.6 million budget for next year

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by George Jared ([email protected]) ago 0 views 

The Arkansas State University System Board of Trustees on Wednesday (June 3) approved a combined $402.6 million operating budget, as well as tuition and fees, for 2026-2027.

Interim System President Robin Myers said the overall system budget was constructed to retain and recruit employees. It was also approved with the addition of the College of Veterinary Medicine at Arkansas State University in mind and increased costs for utilities and insurance.

“Our campuses continue to prioritize student success and quality higher education while working hard to hold expenses under control and keep tuition as affordable as possible,” Myers said. “We are also seeing a lot of reallocation of resources to meet the demands for new programs.”

The Board of Trustees approved the following FY2027 budget and tuition plans for each ASU System institution:

• Arkansas State University – a 6.3% increase in operating budget from $236.4 million to $251.4 million, which includes the new College of Veterinary Medicine. Combined tuition and fees will increase 4% to $10,850 annually.
• Henderson State University – a 2.6% increase in operating budget from $52.2 million to $54.8 million. Combined tuition and fees will remain at $10,560 annually.
• ASU-Beebe – a $31.1 million operating budget with a combined tuition and fees increase of 3.5% to $4,440 annually.
• ASU-Mountain Home – a $12.8 million operating budget with a combined tuition and fees increase of 2.9% to $4,320 annually.
• ASU-Newport – a $20.1 million operating budget with a combined tuition and fees increase of 2.8% to $4,410 annually.
• ASU Mid-South in West Memphis – a $14.8 million operating budget with combined tuition and fees remaining flat at $4,770 annually.
• ASU Three Rivers in Malvern – a $9.2 million operating budget with a combined tuition and fees increase of 6.6% to $5,300 annually.

Trustees approved $132.5 million in capital improvements and $3.2 million in deferred maintenance projects across the seven system institutions, which have identified some $475 million in total deferred maintenance needs.

Henderson full-time faculty and staff will each receive a $2,000 salary increase, which is their first raise in compensation since they took a 20% pay reduction and 40% retirement benefits cut in 2019. Henderson Chancellor Trey Berry said he is hopeful about being able to do more for employees as enrollment trends continue to improve.

Trustee Price Gardner thanked the system and campus financial teams for their work on the operating budgets. He noted they “work to make higher education affordable when so many expenses aren’t controllable. It’s more of a challenge every day.”

He also thanked Berry and all Henderson employees “for the sacrifice you have demonstrated since coming into the system. I wish we could do more and we will as finances continue to improve.”

Berry shared an overview of significant progress being made on campus across multiple areas. He said, “Heart Start orientation is the best gauge of enrollment, and we’re showing a 38% increase over last year. We’re in a very good place at Henderson State. We have our third balanced budget in a row.”

Henderson also raised $6.7 million in private funding during the past year, which is the largest amount raised in a single year at Henderson from 1,319 donors, including 605 new donors.

Board Chair Robert Rudolph thanked Myers for his second term of service as interim system president and Berry for his efforts on behalf of Henderson. Myers introduced A-State Chancellor Todd Shields as incoming system president and Dr. Calvin White Jr. as interim chancellor at A-State. He also acknowledged the service of departing ASU Three Rivers Chancellor Steve Rook and introduced Shane Broadway, who is serving as interim chancellor in addition to system role of vice president for university relations.