OSU/A&M Regents approve $1.5 billion 2022 budget for Oklahoma State University and the OSU System
Friday, June 18, 2021
Media Contact: Monica Roberts | Director of Media Relations | 405-744-4800 | monica.roberts@Okstate.edu
The OSU/A&M Board of Regents approved a $1.5 billion operating budget for the Oklahoma State University System for fiscal year 2022 during its regularly scheduled June 18 meeting.
The OSU System budget increase includes a 4.8% increase in state appropriations for targeted workforce development initiatives for engineering, STEM, nursing and teacher education. The OSU System enrollment is 33,021, led by an enrollment of 24,405 at its Stillwater and Tulsa campuses, including the College of Veterinary Medicine.
Tuition and mandatory fees will increase by 2.5% for in-state undergraduate and graduate students at the Stillwater and Tulsa campuses. This is the first tuition and mandatory fee increase in three years.
“Moving forward, keeping the costs of an OSU degree affordable remains foremost on our minds,” said OSU President Burns Hargis. “Even though the increase is minimal, it will enable investment in educational and research programs and initiatives as well as ensure we consider the impact of inflation on operational costs.”
He continued, “Oklahoma State has weathered one of the most uncertain times in university history and developed a sound budget that will continue to serve our students and state despite the challenges we faced. I am extremely proud of the way we worked together during the pandemic and did not waver from our land grant education, research and service mission
“Federal funding, additional state appropriations and donor support have been critical to meeting the needs of our students and their families and in keeping the university budget in a solid position as we enter the fall semester. I thank our students, faculty and staff for their creative problem solving and diligence in following protocols to keep our campus safe and open.”
Federal HEERF (Higher Education Emergency Relief Funds) increased the OSU System budget by more than $70 million. HEERF are one-time funds used mainly for student aid, as well as addressing COVID-related costs necessary to maintain a safe campus environment and other revenue shortfalls due to the pandemic.
“The Regents and System leaders worked together to craft a budget which reflects our commitment to shared governance throughout the OSU system,” said Regents Chair Rick Davis. “In the face of a global pandemic, that partnership was more important than ever. We approved a budget today to provide many benefits to our students, citizens and state while maintaining accessibility and affordability. The budget provides investments in areas to help grow our economy, educate the future workforce, expand research and promote innovation.”
Numerous Oklahoma State University personnel actions were also approved during the Board of Regents meeting. Read more here.