Clemson seeks big budget increase while sitting on $133M in reserves

By Rick Brundrett | The Nerve

Clemson University is requesting more than a 10 percent budget increase for the next school year, despite having $133 million in unrestricted reserves at the start of this fiscal year, records reviewed by The Nerve show.

As of June 30 — the end of fiscal 2012-13 — the upstate research university had $133,091,000 in “unrestricted net position,” according to its annual Comprehensive Annual Financial Report, which was posted recently on the Office of State Auditor’s website.

That works out to be about $7,825 in unrestricted reserves for each of the university’s approximately 17,000 undergraduate students, which could cover nearly 60 percent of each full-time, in-state undergraduate student’s tuition and fees for this school year.

Tuition and required fees for those students jumped by nearly 18 percent from fiscal 2010 to this fiscal year, including a 3 percent hike this school year, according to South Carolina Commission on Higher Education records.

at The Nerve.

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