BUFFALO, NEW YORK – April 18, 2016 – Trocaire College’s Board of Trustees has unanimously approved the college’s budget for the 2016-2017 academic year. It includes a 3 percent tuition rate increase and will allow Trocaire to focus on several strategic initiatives.
The 2016-2017 budget comes in at approximately $17.83 million, with a projected enrollment of 1,350 students. One semester’s tuition for 2016-2017 will be $8,225, a $240-per-semester increase. There is also a $20-per-credit hour increase for part-time students.
This increase is on par with that of competing institutions within Trocaire’s local market, according to figures from the Consumer Price Index and the Higher Education Price Index.
“This tuition increase takes into consideration the ever-increasing cost of doing business, and ensures we have the ability to invest in key initiatives at Trocaire,” said Vice President for Finance John Hudack. “We made sure to account for both financial necessities as well as strategic investments that will position us to thrive in the future.”
The budget includes salary adjustments to address cost of living and inequities for faculty members per their collective bargaining agreement, as well as a comparable pool for staff. In addition, $616,000 is earmarked for capital improvements, including $250,000 each for facility improvements and information technology (IT) upgrades, including classroom enhancements. Another $350,000 is allocated for initiatives in the areas of creative learning, new program development and strategic planning, among others.
Savings was found in outsourcing the college’s IT services and transitioning to a partnership in which Barnes & Noble handles all Trocaire Bookstore-related operations. Savings from a healthcare plan switch was shared with employees through the creation of a health savings account for each individual.
“We will continue evaluating non-instructional operations and contracts to make sure we’re taking advantage of the most efficient and effective options,” Trocaire President Dr. Bassam Deeb said. “These decisions allow us to keep costs down and focus on our most important assets: our students and their education.”
Some departments will see a reallocating of funds this year—meaning some will experience budget decreases while others get increases—based on needs and priorities identified in a comprehensive, in-person, budgeting review process that started months ago.
“We wanted to give everyone an opportunity to present their case for requests in funding and to show evidence of creativity in their areas and how they are providing better services for students and the college as a whole,” Deeb explained. “We needed to give departments the chance to really pitch those ideas and have an interactive discussion, and that doesn’t happen on paper.”
About Trocaire College: Founded in 1958 in the City of Buffalo, NY by the Sisters of Mercy, Trocaire College is a private, career-oriented Catholic college that strives to empower students toward personal enrichment, dignity and self-worth through education. A career-oriented institution, Trocaire offers three bachelor’s degrees, 12 associate degrees and eight certificate programs in healthcare, business and technology. Recognizing the individual needs of a diverse student body, Trocaire College provides life learning and development within a community-based environment, preparing students for service in the universal community. Visit www.trocaire.edu for more information and follow Trocaire on Facebook and Twitter.