OSU approves fiscal year budget

The OSU/A&M Board of Regents has approved a $1.7 billion operating budget for the Oklahoma State University System for fiscal year 2024.

The budget, which the board approved Friday during its regular meeting held on the OSU-Oklahoma City campus, includes a significant funding increase from the state. General university state appropriations for FY 2024 are just over $221 million. That's up $26.5 million over the previous year — an increase of 13.76% for the state's largest university system.

OSU’s FY 2024 budget will see tuition and mandatory fees remain flat for both in-state and out-of-state undergraduate and graduate students at the Stillwater and Tulsa campuses for the second straight year.

As part of OSU President Kayse Shrum's vision to enhance employment opportunities and growth, a faculty and staff merit-based raise program will be implemented starting July 1, following similar merit-based raise programs implemented in 2021 and 2022.

“This year's budget aligns with our mission to meet the needs of students by providing a highquality and affordable experience,” said Jarold Callahan, OSU/A&M Board of Regents chair. “We recognize the importance of faculty and staff as the foundation of our success. The budget reflects our commitment to operational efficiency and responsible stewardship.”

Led by an enrollment of 24,692 students at its

Stillwater and Tulsa campuses — representing a 4% increase over the previous year's enrollment — enrollment across the OSU System is over 33,000 students. The student body includes representation from all 50 states; Washington, D.C.; Puerto Rico; and 113 countries. In the fall, OSU reported its largest freshman class in history — 4,668 first-time freshmen enrolled — and early indications forecast a large incoming freshman class for the upcoming academic year. In the fall, OSU unveiled a comprehensive strategy to become the nation’s preeminent landgrant institution. The plan includes specific tar- gets for increasing student access, affordability, retention and enrollment, all while promoting an efficient OSU System with a focus on addressing society’s most pressing challenges.

“Oklahoma State is on a positive trajectory with the systemwide strategy that will increase student enrollment, help address the state's workforce challenges, expand research capabilities and improve access for students," Dr. Shrum said. "A key part of making these things possible is our commitment to financial stewardship as reflected in the budget accepted by the OSU/A&M Board of Regents.