Set Tuition In-County Tuition Rates to Increase by 2.7%
The College of Southern Maryland Board of Trustees at its June 20 meeting approved the college’s Fiscal Year 2020 (FY20) budget of $66,256,202, which reflects a 0.7 percent decrease over FY 2019 and is based on projected tuition, and approved funding by the state and by Calvert, Charles and St. Mary’s county boards of commissioners.
The college’s FY20 budget includes funding for a one-time upgrade of its enterprise resource planning system (ERP) and the first phase of a three-year compensation equity adjustment resulting from a market comparison study to provide employees with a fair and equitable compensation system.
In approving the budget, the trustees set tuition with a 2.7 percent increase for Southern Maryland students, effective with the fall 2019 semester. Tuition for residents of Calvert, Charles and St. Mary’s counties will increase to $131 per credit. The combined fee remains at 25 percent of tuition.
CSM’s operating budget is supported by funding from the state, the three counties within Southern Maryland, and tuition and fees. Tuition and fees represent approximately 40 percent of the total budget, county appropriations at nearly 30 percent, and state funding at 27 percent with 3 percent from other sources. State funding is programmed at $17.8 million, and the local three county support levels total $19.8 million. Tuition and fees from credit and continuing education enrollment are anticipated at $26.4 million.
“We have been diligent in managing our budget and developing our revenue projections from a fiscally conservative basis that continues to support the high degree of success we expect for our students. This includes strategic position management to accurately reflect the positions serving our students in helping them to achieve their career goals while also addressing aging infrastructure needs in technology,” said CSM President Dr. Maureen Murphy.
Murphy noted that the budget provides vital support for campus facilities, computer labs, campus and cyber security, as well as productivity enhancements within the college’s academic and administrative infrastructure.
Within the additional 5 percent in county funding of $934,240 is included a one-time total allocation of $812,700 by Charles and St. Mary’s counties to support the ERP technology upgrade.
“Just as important is addressing fair and equitable compensation for the people who serve our students, and this budget begins a three-year phase-in to ensure we are taking care of our people,” Murphy said. “It has been more than 10 years since the college has analyzed its regular benefitted positions, and the trustees and I believe strongly in aligning our compensation package with our compensation philosophy. This budget reflects that desire—to be competitive within our industry, retain the high caliber of employees that our students need, and to properly support our employees.”
In presenting the recommended budget to the trustees, CSM’s Budget Director Judy Mills advised that the FY20 operating budget provides a half-step increase to the base pay of 10-month and 12-month faculty and a 1.5 percent market adjustment for staff. Additionally, the reclassification of regular benefitted staff positions will impact approximately 300 positions with salary adjustments. Mills noted that these adjustments will be phased in over three years.
Mills noted that for an in-county resident enrolled in 15 credit hours, the tuition increase is estimated at an approximate increase of $52.50 per semester. Out-of-county and out-of-state tuitions also increased to $229 per credit and $294 per credit respectively.
CSM’s tuition and fees may be paid over four months through CSM’s Tuition Payment Plan. Since this is a deferred payment plan, there is no debt, no credit search and no interest. There is a non-refundable enrollment fee of $50 per semester. For information on the payment plan, contact the Bursar’s Office at email@example.com or 301-934-7712. To enroll in the plan, visit https://www.csmd.edu/costs-aid/credit-costs-aid/tuition-and-fees/Tuition-Payment-Plan/
Various resources are available for students regarding financial aid, grants, loans, veterans benefits or student employment. For information on financial assistance and the types of aid available to attend college, please visit http://www.csmd.edu/costs-aid/credit-costs-aid/scholarships-financial-aid/
Additionally, the college offers an online application that helps students to easily identify and apply for potential scholarships. The CSM Scholarship Finder is a quick, easy and free service that helps Southern Maryland students match their backgrounds and financial needs against more than 200 scholarships in a wide variety of academic programs. Every student must submit their FAFSA in order to apply for scholarships. To learn more, visit online at http://www.csmd.edu/costs-aid/credit-costs-aid/scholarships-financial-aid/scholarships/scholarship-finder/
For information on scholarships and financial aid assistance at CSM, call 301-934-7531 or visit https://www.csmd.edu/costs-aid/credit-costs-aid/scholarships-financial-aid/