Murray State is fiscally sound, but asks departments for help to increase revenue. The University intends to cut down on spending, tedious bureaucratic transactions and more, after the first 2026 budget town hall meeting, March 10.
The assembly of administrators, faculty, staff, students and other community members had the opportunity to attend the meeting led by Laura Foltz, Murray State vice president of finance, with Ron Patterson, Murray State president, and ask questions of them.
Foltz reported that, going forward, a plan of thinking for Murray State is to spend intentionally, preventing unnecessary costs with constructive feedback from the departments doing this. She also said Patterson and others will be operating as a committee to examine the University’s fees and what to do with them strategically.
“Murray State is fiscally sound, but we’re not at the point where we have lots and lots and lots and lots and lots of extra revenue,” Foltz said. “If we did all of that salary schedule that was given to us by the consultants could have been implemented. So just ask your help to be intentional and strategic as we move forward, and I’m happy to meet with anyone to look at that together.”
Foltz also acknowledged departments spending the surplus they could have at the end of a period so they don’t lose it when the next budget comes around; she asked them not to, as the taking of that surplus could help the University where it needs cash.
“If you spend all that money at the end of the year, your department might benefit—no lie,” Foltz said. “But it’s a very siloed approach, because if that money had been better utilized across the campus, then maybe there would be money to not have made some of the position cuts, or not have made some of the other cuts.”
Audience members asked about the Racer Experience Fee and what it exactly goes to, if the budget can be publicly viewed in an easily accessible and understandable format, revisiting the evergreen study—a consult that revamped the hiring and payment scale of faculty—and its unpopularity.
Foltz responded by asking her assistant to add notes to a to-do list, and Patterson addressed the priority of compensation.
“We’ve been saying all day that we have a finite amount of money, so we’re trying to provide raises (Cost of Living Adjustments) with the same pool of money, no new dollars and we’re asking everybody in the room, those that are virtually as well, to help us shake those trees. There are dollars there.”
The town hall was livestreamed and can be viewed entirely through Murray State’s website.
