The Penn State Board of Trustees Committee on Finance, Business and Capital Planning today (Sept. 12) recommended a state appropriation request totaling $359.8 million for fiscal year 2020-21, representing an increase of $22.6 million over 2019-20.
University administrators have indicated that non-union Penn State employees who are eligible will receive notice of a merit-based salary increase for fiscal year 2019-20 by the end of September. The increase in pay will be reflected in eligible employees’ September 2019 paychecks, and pay increases will be retroactive to July 1, 2019.
Starting with the spring 2020 semester, Penn State will eliminate the Information Technology Fee as a separate line item on the student bill and instead incorporate the fee as part of the tuition rate. This action will not impact overall cost.
The Penn State Board of Trustees voted to approve the 2019-20 operating budget and tuition and fees schedules during its full meeting July 18 at Penn State Brandywine. The $6.8 billion budget includes no tuition increase for all Pennsylvania resident undergraduate students for the second year in a row.
The project to launch Penn State’s new System for Integrated Management, Budgeting and Accounting, or SIMBA, is tracking on time and on budget in anticipation of a July 2020 launch, according to SIMBA project sponsors Mary Lou Ortiz, University budget officer, and Joseph Doncsecz, associate vice president for finance and corporate controller. Both presented an update today (July 18) to the Board of Trustees Committee on Finance, Business and Capital Planning at Penn State Brandywine.
Joseph J. Doncsecz, associate vice president for finance and corporate controller for Penn State, has been named the College of Medicine’s interim associate vice president for finance and business, effective Aug. 1. Susan Wiedemer, associate controller and assistant treasurer at Penn State, will take over for Doncsecz on an interim basis.
Penn State’s 2019-20 general support appropriation from the Commonwealth increased by 2%, or approximately $4.75 million, as the University’s non-preferred appropriations bill passed the General Assembly today (June 27) as part of Pennsylvania’s $34 billion budget package, which is expected to be signed into law by Gov. Tom Wolf.
Recent reports issued by Moody’s Investors Service and S&P Global Ratings provided stable outlooks for Penn State.
The Penn State Board of Trustees Committee on Finance, Business and Capital Planning today (May 2) approved a proposed interim operating budget of approximately $6.5 billion to support all University operations. The proposal goes to the full board for consideration on May 3.
Penn State President Eric Barron addressed the Pennsylvania Senate Appropriations Committee on Tuesday, Feb. 26, highlighting the University’s economic impact on the Commonwealth and its ability to drive job creation and business growth through innovation, while also emphasizing his commitment to keeping a Penn State education accessible and affordable for the next generation of Pennsylvania’s workforce.
The Penn State Board of Trustees Committee on Finance, Business and Capital Planning today (Sept. 13) recommended for approval a 2019-20 University budget plan that includes a request to the Commonwealth to increase Penn State’s total appropriation by $19.6 million, for a total of $347 million in state support.
The Penn State Board of Trustees voted to approve the 2018-19 operating budget and tuition and fees schedule during its full meeting July 20 at Penn State Berks. The $6.5 billion budget includes no tuition increase for all Pennsylvania resident undergraduate students for the coming academic year.
Penn State’s 2018-19 general support appropriation increased by 3 percent — or roughly $6.9 million — as the University’s non-preferred appropriations bill today (June 22) passed the General Assembly and was signed into law by Gov. Tom Wolf as part of Pennsylvania’s $32.7 billion budget package.
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.
