OBU Board Ratifies 2004-2005 Budget
March 8, 2004
In its regular board meeting Friday, March 5, Oklahoma Baptist University's board of trustees approved a $31.6 million budget for the 2004-05 academic year, which includes tuition and fee rates for the 2004-05 academic year.
The $31.6 million operating budget for the upcoming fiscal year will become effective August 1, 2004.
Board members approved an increase in OBU's overall charges for the 2004-2005 year, increasing the total cost of tuition, fees, room, and meals by $847 per semester for full-time students.
"In 2003-2004, our charges for tuition and fees are 59 percent of the national average for four-year private universities in tuition and fees," said Randy L. Smith, OBU senior vice president for business affairs. In addition, OBU ranks as one of the least expensive private universities in Oklahoma and among Christian universities nationally.
President Mark Brister explained several reasons for the increase including investing additional resources into personnel, and continuing technology enhancements that are scheduled to upgrade infrastructure and expand campus and classroom technologies. In addition, "OBU invests directly in students," said President Brister. "The vast majority of OBU students receive financial aid in some form, and we will continue to increase scholarship and student aid dollars." The amount of financial aid budgeted for the 2004-2005 reflects an increase of 11.75 percent.
In additional news, Dr. Sid Watson was promoted from Assistant Professor to Associate Professor of English.