MSSU approves 3.4% tuition increase

The Missouri Southern State University Board of Governors adopted a $75.3 million revenue budget for Fiscal Year 2023. Financial aid and scholarship expenses account for $13.7 million, resulting in a net operating expense budget of $63.2 million.

Compensation and benefits ($35 million) represent 56 percent of the net operating budget. State appropriations reflect a core increase of 5 percent ($1.4 million) over the prior year, plus a $512,000 line-item increase for FY23 due to the rising cost of the MOSERS retirement plan.

The adopted budget will also fund approximately $1 million in total employee compensation increases for the coming fiscal year.

As part of their budget deliberations, the board approved a 3.4 percent tuition increase of $8.80 per credit hour.