Trustees committee recommends interim budget for 2016-17

May 05, 2016

UNIVERSITY PARK, Pa. — Penn State’s Board of Trustees Committee on Finance, Business and Capital Planning today (May 5) recommended for approval an interim maintenance and operating budget of slightly more than $4.89 billion. The full board will vote on the recommendation at its meeting on Friday (May 6).

This budget would support all Penn State operations and enterprises throughout the Commonwealth. The University adopts an interim budget each year so that it has an approved fiscal operating plan from the beginning of the fiscal year, July 1, until the University’s Board of Trustees formally approves next year’s actual budget.

Details on the current 2015-16 fiscal plan, which serves as a basis for this interim budget, can be found at online.

No action on changes in tuition and necessary expense increases — including employee salaries, wages and benefits — will be taken until the board passes Penn State’s 2016-17 budget.

The final 2016-17 Penn State budget is scheduled for presentation to the board for approval at its next meeting, scheduled for July 21-22 at Penn State Wilkes-Barre.

Last Updated May 09, 2016