Work Continues on State Budget, Potential for Historic Investment at WMU
As the Governor and Legislature continue to negotiate the Fiscal Year '23 state budget, that begins October 1, WMU is poised to receive substantial investments that will bolster our efforts to support students and help address the growing inflationary cost increases we are experiencing. All sides (Governor, House and Senate) have included substantial funding increases for university operations. The House and Senate however, have included additional funds specifically directed to payoff state-mandated retirement pension liabilities in their respective budget recommendations. Resolving this long standing debt is a top priority for WMU. We would especially like to thank our local State Representatives and Senator, Rep. Julie Rogers, Rep. Christine Morse, Rep. Matt Hall and Sen. Sean McCann for their ongoing support of these funding priorities, they are helping us secure these critical investments and their support is key to our success!
At the recent Consensus Revenue Estimating Conference held in May, it was determined that the state has even more money to add to the earlier identified current-year budget surplus and projections for FY '23 remain strong. So, now is the time to make these critical investments in higher education. Additionally, by finally resolving the unfunded liabilities associated with the state-mandated retirement pension accounts will free up additional revenue for WMU to invest back on campus to support our students, faculty and staff.
We are hopeful that budget negotiations will conclude with an agreed to budget by the end of June or beginning of July. You can help us advocate by reaching out to your elected officials in the state House and Senate and let them know that you support efforts to invest in higher education, including funding to resolve the unfunded liabilities associated with the MI Public School Employees' Retirement System (MPSERS).
