Fiscal year budget approved, new board chairman named for Murray State University's Board of Regents

Murray State University held its quarterly Board of Regents meeting Friday.

WKMS reported the board dealt with several matters, including passing the fiscal year budget.  The budget includes a two percent cost of living adjustment for faculty and staff. 

The university is also in the midst of funding the third phase of raises for eligible employees identified in the school's 2024 comprehensive study.  

Murray State vice president for finance and administrative services Laura Foltz said the big emphasis areas in the budget were academic affairs and personnel.  A majority of MSU academic affairs units indicated the biggest thing needed to be more successful were more employees.

Foltz added the school is hiring a compensation specialist to determine which units are underpaid and what groups of employees need to be considered for higher compensation in future budgets.

The Board also named Dr. David Meinschien, superintendent of Murray Independent Schools as the new board chair and Dr. Matt Price with Murray-Calloway County Hospital will serve as vice chairman.  

source:  WKMS