USI Board of Trustees approves budget and elects officers
USI Board of Trustees approves budget and elects officers
7/8/1999 | University Communications
The USI Board of Trustees met in regular and annual meetings in New Harmony, Indiana, on Thursday, July 8, and approved a current operating budget of just under $50 million, a $6 million increase over last year's budget.
University officials told the trustees that state appropriations comprise 63.4 percent of the budget, with the remainder coming from student fees and other income. The state appropriation of $31,093,992 includes an enrollment increase adjustment, plant expansion increase with the opening of the Liberal Arts Center, a standard increase for inflation, and funding of recognized technology needs. The University also received $900,000 as a one-time appropriation to assist with keeping technology current and meeting the challenge of retaining information technology professionals on staff.
Of the total budget, 74.4 percent will be used for personal services, 19.9 percent for supplies and expenses, 3.4 percent for repairs and maintenance, and 2.3 percent for capital outlay. In addition to the operating budget, the University has budgeted $4.2 million for payment of debt service on academic facilities.
In other business, officers of the Board of Trustees were elected at the annual meeting. James L. Will, Sr., retired chief executive officer of James L. Will Insurance Agency in Evansville, was elected chair. Will was appointed to the board in 1996 and has served as vice chair of the Board and chair of the Finance Committee. He serves on the Advisory Council of the USI Foundation and is on the Advisory Board of the USI Varsity Club.
Other officers elected are Tina M. Kern, Evansville, vice chair for Finance; Bruce H. Baker, Newburgh, vice chair for Long Range Planning; and Louise S. Bruce, Tell City, secretary. Richard Schmidt, USI vice president for Business Affairs was named treasurer, and Sherrianne Standley, vice president for Advancement, was named assistant secretary.
Ryan Helzerman, Newburgh, was appointed by Governor Frank O'Bannon to the board as student trustee. Helzerman, who succeeds Brian Pauley, is a junior majoring in communications and a Dean's List honor student. The son of Richard and Ruth Helzerman, Ryan graduated from Castle High School in 1997.
