Webster University is projecting a $12.2 million budget shortfall below its revenue goal for the…
Webster 2017 budget projects financial loss
In Webster’s approved fiscal year 2017 (FY17) budget, the university will spend $6.4 million in operational costs, exceeding revenue expectations for that fiscal year.
In fiscal year 2016 (FY16), Webster projected of $2 million in operational expenses.
Webster’s approved budget lists its revenue versus its expenses. The revenue includes tuition and fees, tuition reserve and financial aid. Net tuition revenue is also included, which is comprised of private gifts and grants, auxiliary revenue, endowment and interest, federal gifts and grants and other revenue. All of which adds up to $191.8 million.
Tuition and fees saw a 5.5 percent decrease from FY16. The university budgeted for 209.8 million of revenue through that channel in 2016. In FY17, the budget projects $197.6 million will be made through tuition and fees. (For Webster’s breakdown of revenue and expenses, visit websterjournal.com)
Expenses cover a large array of operational costs of the university which include:
- Administrative and student wages
- Instructional wages
- Employee benefits
- Travel and entertainment
- Supplies and equipment
- Utilities and Insurance
- Operating Leases
- Tuition Remission
All-in-all, Webster’s expenses total $198.2 million, a 4.4 percent decrease from FY16’s $207.3 million budget.
In September, The Journal reported that Webster’s domestic graduate enrollment fulfilled 93 percent of what the university anticipated budget-wise. In the same article The Journal reported at international campuses, 2,752 are enrolled in graduate classes, 81 percent of what the university budgeted for in FY16.
Webster University administration did not respond to The Journal’s immediate calls seeking comment. Check WebsterJournal.com this week for updates and reaction.