DATE: December 5, 2019
SUBJECT: Approval of Orientation Fee Increase
FROM: FINANCE AND ADMINISTRATION
ACTION ITEM: YES
BACKGROUND: Kentucky State University strives to continue building upon ways to continue providing engaging opportunities for our students. While we aim to keep forward movement, we do not want to create a financial burden for the institution. Currently incoming students pay a one-time orientation fee of $35, which merely covers New Student Orientation (NSO) Costs. All of our current Bred Week expenses fall on the university, as there is no additional fee for students to attend. For 2019 the total expenses for NSO and Bred Week were $119,060.57. One reason this total was so high, was due to the fact that student meal swipes were not active, and we had to pay for all student meals. This proposal details an increased fee that would cover both NSO and Bred Week expenses, including meal swipes beginning during Bred Week.
In true Thorobred spirit, we are proposing a one-time fee of $188.60. The breakdown below details how this fee would be budgeted. Additionally, there are cost comparisons between 2019 and 2020 to show the estimated savings.
SUMMARY OF PROGRAMS/ACTIVITIES:
Year 2019 (500 Students at $35) 2020 (500 Students at $188.60) Expenses $119,060.57 $93,000.00 Income $17,500.00 $94,300.00 Institutional Cost $101,560.57 ($1300.00)
ALIGNMENT WITH STRATEGIC GOALS:
Goal 1: Enhance Student Enrollment, Improve Student Life and Engagement, and Improve Student Advising and Career Development.
PROGRAM IMPLICATIONS: Allow for New Student Orientation and Brew Week to be a independent self-sufficient program.
FISCAL IMPLICATIONS: The Orientation Fee increase will allow for an increase in funding to cover all New Student Orientation and Bred Week expenses.
RECOMMENDATION: Approval of the Orientation Fee Increase.
ATTACHMENTS: N/A