University Gets State Budget Boost, Park Place Set For Renovations< < Back to
BEAVERCREEK (WOUB) — The Ohio University Board of Trustees received some positive news Monday regarding the amount of money they’ll receive from the state to fund university business.
In a meeting at the Russ Research Center in Beavercreek, the board was told the state share of instruction (SSI) would be more than was anticipated at the board’s last regular meeting, when they approved a budget estimating a 1 percent bump in state subsidy.
Deb Shaffer, senior vice president for the Office of Finance and Administration gave a review of the budget this time around, which will include a 2 percent increase approved through the final state budget.
That bump is estimated to bring in about $1.7 million in unbudgeted revenues, according to the university.
Along with state investment in programs like the Voinovich School of Leadership and Public Affairs’ Appalachian New Economy Partnership and the Rural Diversity Program, the state appropriations “provide an additional $3.3 million for specific investment,” according to report released after the meeting.
The university will see some more construction on campus as well, after the board approved another $1.2 million for the renovation of 29 Park Place and the adjacent Carriage House, both formerly a part of the president’s residence.
This brings the cost of the renovation to $3.5 million, which the university says is caused by an increase in material costs, utility and code requirements, and the Ohio Honors Program cohort population jumping from 300 to 425, bringing a need for more space.
In Monday afternoon’s regular meeting, the board approved a resolution authorizing President Duane Nellis to receive, accept and award bids for the renovation project.
The renovation is part of a project to change the way Park Place is used by the university. The home has been empty since former president Roderick McDavis and wife Deborah moved into a leased property on Coventry Lane.