2008 Woodie Awards
Board approves budget
Faculty, staff to see average pay raise of 5 percent
Jason Shepard
Editor in Chief
Issue date: 10/1/07 Section: News
- Page 1 of 1
The University of South Alabama board of trustees approved $623.9 million in expenditures as part of the 2008 university budget, which is a $61.2 increase from the previous year. Total revenue is reported at $786 million, also an increase of $61.2.
The majority of the application of the new funds will go toward the hospital systems and an increase in employee salaries and benefits.
The approved salary and benefit increases, totaling $16.5 million, will give all hospital and university staff and faculty an average raise of a little more than 5 percent. In addition to these raises, the increases also include provisions for "equity increases," which allows for additional raises for those employees whose salaries are "out of whack" compared to employees in similar positions.
A small increase of $300,000 was approved for student scholarship programs.
Of the $786 million in University revenues, $67.2 million comes from tuition and fees. Patient services provides the biggest source of University income at $398.7 million. State appropriations, which saw a 16.1 percent increase this year, provide a total of $139.7 million. Other sources of revenue include contracts and grants, auxiliary enterprises, investments and gifts.
The majority of the application of the new funds will go toward the hospital systems and an increase in employee salaries and benefits.
The approved salary and benefit increases, totaling $16.5 million, will give all hospital and university staff and faculty an average raise of a little more than 5 percent. In addition to these raises, the increases also include provisions for "equity increases," which allows for additional raises for those employees whose salaries are "out of whack" compared to employees in similar positions.
A small increase of $300,000 was approved for student scholarship programs.
Of the $786 million in University revenues, $67.2 million comes from tuition and fees. Patient services provides the biggest source of University income at $398.7 million. State appropriations, which saw a 16.1 percent increase this year, provide a total of $139.7 million. Other sources of revenue include contracts and grants, auxiliary enterprises, investments and gifts.
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