The St. Mary’s College Board of Trustees approved on Friday, May 13, the graduates of the St. Mary’s College of Maryland Class of 2022, comprised of 351 Bachelor of Arts / Bachelor of Science degrees, and 24 Master of Arts in Teaching degrees. The Board also approved proposed budgets and greenlit a long-range tuition strategy. Finances The Board approved the College’s proposed Current Fund (Operating) Budget of $78.3 million for FY23. Revenues in the proposed budget have increased 6.15 % over last year, primarily due an increase in state support and auxiliary enterprise revenues. The legislature approved the governor’s recommended FY23 operating budget for the College, which provides $32.3 million in state funds, an increase of 9.3% over the FY22 allocation. The state was also generous to the College with the capital budget. In total, the FY23 capital funds came to $10.9 million. The legislature approved the governor’s five-year capital improvement plan, which awarded the College $5 million for infrastructure improvement projects provided the funds be spent in the next three years. The College was also allocated an additional $4 million in capital renovation funding in support of its Hilda C. Landers Library reimagining project. Other allocations associated with the total include […]
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