{"id":2109,"date":"2009-12-09T00:00:00","date_gmt":"2009-12-09T05:00:00","guid":{"rendered":"http:\/\/www.emu.edu\/blog\/news\/?p=2109"},"modified":"2009-12-09T00:00:00","modified_gmt":"2009-12-09T05:00:00","slug":"emu-financially-healthy","status":"publish","type":"post","link":"https:\/\/emu.edu\/now\/news\/2009\/emu-financially-healthy\/","title":{"rendered":"EMU ‘Financially Healthy’"},"content":{"rendered":"

University OKs $28.5M Budget Plus $2.4M In Commons’ Renovation<\/h4>\n

By Heather Bowser, Daily News-Record<\/em><\/p>\n

Most private schools have endured a tough year financially, but Eastern Mennonite University has bucked that trend, officials there say. The Harrisonburg university remains “financially healthy,” recently passing a budget 3.4 percent larger than last year’s, EMU administrators said Tuesday. <\/p>\n

The school’s 17-member board of trustees<\/a> approved a $28.5 million spending plan for fiscal 2010, a figure that’s $952,000 more than in the 2009 budget. <\/p>\n

\n

\"Eastern
Eastern Mennonite University recently approved a $28.5 million budget plus a capital renovation plan that includes the overhaul of the Mainstage Theater and other sites in the University Commons building at a cost of $2.4 million<\/a>. Photo by Nikki Fox<\/div>\n

\n

The increase was primarily driven by enrolling 84 more full-time students than in 2009, said Ron Piper<\/a>, EMU’s vice president of finance. This year, 1,243 full-time students are enrolled at the university. <\/p>\n

Also, nine more students are paying to live in dorms this year, which generates additional revenue, Piper said. With those two contributing factors, EMU was able to fill three non-teaching full-time positions previously left vacant. <\/p>\n

In addition to approving the budget, university officials also adopted a $2.4 million spending plan to renovate the Mainstage Theater and other sites<\/a> throughout the University Commons building. <\/p>\n

\n

\"Eastern
Eastern Mennonite University is planning on renovating parts of the University Commons building, including the Mainstage Theater. Photo by Nikki Fox<\/div>\n

\n

“EMU is doing moderately well in a challenging economic environment,” said Kirk Shisler, EMU vice president for advancement. “We are optimistic that we will be close to our fundraising targets.” <\/p>\n

By The Numbers <\/h3>\n

Here’s a quick wrap-up of budget and money matters decided by EMU’s trustees and provided to the Daily News-Record on Tuesday by Piper. <\/p>\n

Faculty, staff and “friends of the university” contributed $131,000 for “emergency student aid.” The fund was created to make up for a drop in scholarships from endowment investments. While total giving to the university is up 18 percent year to date, alumni giving to the annual fund is off 8 percent. <\/p>\n

EMU’s new budget allocated $6,500 more in funding – up from $35,500 last year to $42,000 – to increase student counseling services<\/a>. <\/p>\n

Money for capital projects is down from last year’s $730,000 by about 42 percent to $420,300. <\/p>\n

Renovation projects include a $120,000 job in the library building to create a new classroom for the Center for Justice and Peacebuilding<\/a>. That project will change the facade of the building slightly on the east and north by adding windows on the lower level. <\/p>\n

EMU’s board also authorized the administration to borrow $6 million to renovate Elmwood<\/a> and Maplewood<\/a> residence halls. Those projects are expected to start this summer and be completed by January 2011 and June 2011, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

University OKs $28.5M Budget Plus $2.4M In Commons’ Renovation By Heather Bowser, Daily News-Record Most private schools have endured a tough year financially, but Eastern Mennonite University has bucked that ... read more about EMU ‘Financially Healthy’<\/span><\/a><\/p>","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[266],"tags":[8964,9065,6858,11335,5944,5727],"feature":[],"class_list":["post-2109","post","type-post","status-publish","format-standard","hentry","category-alumni","tag-budget","tag-economy","tag-endowment","tag-financial","tag-giving","tag-office-of-the-president"],"yoast_head":"\nEMU 'Financially Healthy' - EMU News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emu.edu\/now\/news\/2009\/emu-financially-healthy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EMU 'Financially Healthy' - 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