Through sound fiscal management, the university reduced its budget by $8 million to minimize the tuition increase for students.
State funding to public universities was reduced by an unprecedented 22 percent with seven percentage points of that reduction to be restored to universities holding tuition increases to less than 7.1 percent. The net 15 percent reduction for Ferris totals $7,294,900. This revenue loss makes for the lowest appropriation level for Ferris since 1992. State funding will comprise just 22.5 percent of Ferris’ fiscal year 2012 recommended general fund operating budget.
For the full version of the story, visit: http://www.ferris.edu/htmls/news/news/News.cfm?AnnouncementID=1501&CatID=1