OU Trustees Pass Budgets, Capital Improvement Plan

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In their regular meeting at the Southern Campus, the Ohio University Board of Trustees passed the annual budget which included a two percent “across the board” raise for faculty and staff.

While the raise is expected to come through, the funds are dependent on the legislature’s decision in the biennial budget, which has yet to be approved.

The two percent raise is expected to begin for classified staff in the next month and administrative and faculty raises are planned for September or October,  Vice President for Finance and Administration Steve Golding said during a meeting of the Joint Academics and Resources Committee on Thursday. The raises, however, would be retroactive to July 1 if the funding comes in as expected.

The university has said they have a “contingency plan” in place in case the funding does not match earlier projections, according to a news release by the university.

The approved budget also include The Ohio Guarantee, which freezes the cost of tuition and housing for students for 12 consecutive semesters.

The capital improvement plan includes renovations and deferred maintenance plans, but the trustees also discussed the future of The Ridges as part of the Comprehensive Master Plan for the university. Officials said the full plan for The Ridges property may take decades to be fully realized.