The College's Board of Trustees has approved a
2002-03 balanced budget that meets the challenge of limiting increases
in tuition and fees while supporting enhancements of the
College's academic, residential and athletic components.
Included in the budget:
- Tuition, room and board rates are to increase 4.9 percent
to $34,253. The increase ends nine consecutive years of
percentage decreases. Costs are $27,245 for tuition, $3,697 for housing,
$3,042 for food, $229 student activity fee, and $40 for the phase-in of
a House System fee. - A commitment to continue to meet the financial need of
all students. Financial aid is to increase 9.7 percent over the current
year's forecasted expenditure to $18.9 million, $18.5 million of
which represents institutional funds with the remainder provided
by government sources such as work study and supplemental
education opportunity grants.
The salary and wage budget is $34.8 million, representing about
36 percent of the total College budget. The pool for faculty and
administrators will increase 3 percent, and the pool for staff will go up by
4 percent.
The budget includes an entering class of 560 freshmen
and 30 transfer students. Budgeted enrollment for all four
undergraduate classes will be 2,030, an increase of 13 over this
year's forecasted enrollment and 11 more than the average enrollment for
the last six years. The increase in the freshman class is needed to
offset the loss of $500,000 occasioned by the fall in short-term interest
rates and represents the amount the College will realize from 40
students after providing for financial aid and academic support.
In other action, the board declared tenurable and promoted
to associate professor Davide Cervone, mathematics; William
Keat, mechanical engineering; Dianne McMullen, performing arts;
Presha Neidermeyer, Graduate Management Institute; and Edward
Pavlic, English.