BOLIVAR – The trend of record-setting budgets at Southwest Baptist University (SBU) is continuing with the May 7 establishment of a $53.7 million goal by trustees for the 2013-2014 academic year.
SBU President C. Pat Taylor in 17 years has seen a dramatic increase in costs starting from an original budget of around $22 million to last year’s $51.2 million goal. Enrollment growth has been just as robust as evidenced by a record number of 497 graduates with diplomas in the May 18 commencement ceremony.
“We must be good stewards of all of our resources and make sure every single dollar is spent wisely,” Taylor said.
By the end of the current budget year, May 31, Taylor anticipates that SBU will finish with a slight surplus.
On another positive note, SBU’s endowment has now topped $23 million.
One of the major campus improvement efforts going on right now is the installation of the new Enviroturf synthetic turf to replace the grass football field at Plaster Stadium. The $1.5 million project began May 3 and is expected to be completed in time for the fall football season.
Trustees also took a step toward reducing their number of annual meetings from three to two. The February board meeting will now be optional year by year. Savings to the university will amount to about $3,000, Taylor said.
The fall trustee meeting will be Oct. 14-15, with the next meeting scheduled for April 14-15, 2014.