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University will overcome state funding challenges
Davenport tells convocation audience
Minnesota State Mankato will overcome state funding challenges that have been delayed until fiscal year 2014, President Richard Davenport told faculty and staff at the 2011-2012 convocation.
By Russ Joseph, News12 Reporter [broadcast on KEYC-TV, North Mankato, MN, 8/14/2011]
Another school year is about to begin at Minnesota State Mankato.
In advance of next week's start, the university held its convocation today. Minnesota State Mankato President Dr. Richard Davenport addressed faculty.
"This is the beginning of a new academic year, and I emphasize new as we welcome new members to the campus and approach new and existing challenges together," Davenport said.
Davenport spent a lot of time discussing the big challenges that Minnesota State Mankato will face over the next several years. The big area of concern is the state's budget that cuts funding to higher education.
Minnesota State Mankato is very much affected by the state revenue shortage, and Davenport warned of additional tuition increases, which may further increase the debt load of students.
"Our elected officials have not reached an agreement, and pushed the deficit down the road to 2014," Davenport said. "Therefore, we have not attained stability in this structural budget."
Minnesota State Mankato was anticipating state cuts and planned ahead for fiscal years 2012 and 2013. The big unknown is higher education funding in 2014.
"While we seem to be in good shape for fiscal year 12 and 13, we should anticipate fiscal year 14 appropriation deductions," Davenport said. "At this point, we cannot predict the magnitude of those additional higher budget reductions."
Davenport remains optimistic that Minnesota State Mankato will achieve even more in the future.
To see the KEYC-TV video, click on http://www.keyc.tv/story/15271851/msu-president-addresses-funding-challenges.
For more KEYC-TV news, go to http://www.keyc.tv/.