Colleagues,
The Board of Trustees will meet on August 7 to discuss the recently approved capital improvement fee.
At the June 29 meeting the Board approved a Fiscal Year 2010 increase of 3% in tuition and tuition related fees, an average 4% increase in room and board and a $500 per semester Capital Improvement Fee. The dedicated capital fee is to be used exclusively for capital purposes beginning with deferred maintenance projects such as the Academic Complex roof, the Student Center HVAC system and updating of our science labs. Similar fees are assessed by our sister colleges across New Jersey.
As you know, we have worked in recent years to reduce expenditures while continuing to provide the high quality education for which Ramapo is known. This year, we identified an additional $1.7 million in cuts that include such areas as travel, cleaning, athletics and technology. This brings our total to $7.3 million in reductions over the past five years.
The decision to raise tuition and fees was not taken lightly and, from the time of the first College open forum on the budget in early February, we worked hard to ensure a transparent, collaborative budget process.
Our situation has been made more challenging by the budget constraints facing the State of New Jersey. Ramapo has not received any capital funding from the State since 1988 and we receive about $750 less per capita in state appropriations than the average state institution.
But we believe that Governor Corzine’s recent signing of economic recovery legislation that allows state colleges and universities to pursue public/private partnerships regarding capital projects may be promising for Ramapo. We are currently reviewing the legislation and we will keep you apprised of the possibilities this new opportunity affords us. In light of this development, I have asked the Board of Trustees to amend the budget by reducing the Capital Improvement Fee by two-thirds so that our total increase in all tuition and fees is held at 6% rather than 12%.
We welcome this opportunity to lessen the financial burden on our students and their families.
Thank you for your support.
Peter P. Mercer Ph.D
President
