Westfield State University Board Of Trustees Finance Committee Finance Committee
The Finance Committee meeting agenda included a discussion of the University Cash Summary, monthly budget-to-actual reports for FY26, and planning for the FY27 Budget. Key items for action were a motion to merge investment accounts and a motion regarding the FY27 Tuition and Fee Schedule. Information items included the Information Security Policy and travel expenses for the President and Direct Reports for the second half of 2025. Subsequent materials detailed the FY27 budget planning, projecting a $4M to $5M shortfall based on current assumptions, driven by increased salary/benefit costs and financial aid investments, while planning strategies included revenue generation and efficiency development. The committee also addressed the proposed FY27 mandatory tuition and fees, recommending a 3.0% increase in the General Fee and a 2.8% total increase for in-state undergraduate tuition/fees, as well as operational updates on capital projects like the Ely Pool renovation and R22 replacement, and a significant discussion on the university's extensive deferred maintenance backlog, estimated at almost $600 million inclusive of a mandatory $422 million decarbonization plan.