Texas Woman’s University is expected to take in $252.5 million this fiscal year, with $246.7 million in expected expenses, according to the university budget that was approved unanimously Friday during a Board of Regents meeting.
The budget shows the university’s revenue is expected to increase by nearly $15.8 million in the upcoming fiscal year, while expenses are budgeted to increase by $18.1 million. The estimated surplus is $5.8 million, according to a summary comparison of all funds.
The balanced budget was presented to the regents’ Finance and Audit Committee last week, and Brenda Floyd, vice president for finance and administration, provided a budget overview for the entire board Friday.
This year, TWU will see increases in education and general funds, designated funds and auxiliary funds, while the state higher education fund amount remains unchanged. That will provide an additional $12.3 million to the university this fiscal year for the total operating budget.
Three fund group areas reflect decreased funds from last year, based on allocations received earlier this summer. Restricted funds from state grants and contracts dropped from $1.1 million in fiscal year 2013 to $334,577 for the upcoming fiscal year, and the unrestricted gift fund amount dropped slightly to $459,575 from $494,219 last fiscal year. The federal grants and contracts from restricted funds decreased by $661,014.
A detailed version of the budget will be available Sept. 1, when the budget takes effect, Floyd said. The planned surplus of $5.8 million is down from the $8 million planned surplus in 2013.
“Thank you so much for all the hard work you and your group has done on this budget — it’s really well done and was such a pleasure to go over it with you last week,” Melissa Tonn, vice chairwoman of the board, said at the conclusion of Floyd’s presentation.
While the unrestricted gift fund amount decreased, officials said they were hopeful for fundraising in the upcoming year, after almost-final numbers from fiscal year 2013 show the first increase in donations to the school in a few years, reported Phil Trammell, director for institutional advancement.
The school had more than 1,000 donors contribute $2,979,047 this past year — up $7,470 from fiscal year 2012.
“Though a couple of the stretch goals in the number of donors and number of gifts are not likely to be met this year, we have reversed a trend from the past couple of years with those numbers declining,” Trammell said. “We are now moving up.”
JENNA DUNCAN can be reached at 940-566-6889 and via Twitter at @JennaFDuncan.