At its May 4 meeting, the Penn State Board of Trustees approved an interim operating budget of approximately $5.7 billion to support all University operations, until a final budget for the 2018-19 fiscal year is submitted at the board’s upcoming July meeting.

As one of Penn State’s major internal software systems approaches the end of its useful lifespan, the Board of Trustees Committee on Finance, Business and Capital Planning today (May 3) voted to recommend a project budget and consulting partner for implementing a new, state-of-the-art financial system.

Penn Staters descended on Harrisburg for Penn State Capital Day 2018 today (March 13), an event designed to bring together the University community and Pennsylvania elected officials.

The Penn State Board of Trustees Committee on Finance, Business and Capital Planning today (Nov. 9), recommended for approval a 2018-19 budget plan that includes a request to the Commonwealth to increase the University’s total appropriation by $19.8 million for a total of $337.9 million in support. The plan still requires approval of the full board and will be presented at the Nov. 10 meeting.

University officials have received news out of Harrisburg today (Oct. 4) that the Commonwealth’s protracted budget impasse continues, as elected leaders continue to fail to come to an agreement on the fiscal plan – holding up passage of funding for state-related universities, including Penn State.

Penn State’s Board of Trustees heard an informational update July 21 on a proposed five-year capital plan that advances critical investments into aging infrastructure and future needs across the institution. The plan, which if approved would go into effect beginning in July 2018, is intended to tackle the University’s large maintenance backlog, providing funding for upkeep of aging facilities and for critical improvements to instructional space.