Trustees Approve Interim Budget

5-16-97
University Park, Pa. -- Penn State's Board of Trustees today (May 16) approved an interim maintenance and operating budget for the fiscal year beginning July 1.

The interim budget was approved for the period beginning July 1 at the level of the adjusted 1996-97 total operating budget of $1,698,653,000 for all divisions, including Penn State's Milton S. Hershey Medical Center and all auxiliary enterprises.

"The University has adopted an interim budget so that the University has an approved fiscal operating plan from July 1 until the new 1997-98 budget is approved at the July Board of Trustees meeting," said Gary Schultz, senior vice president for finance and business/treasurer.

The board took no action on changes in tuition, salaries and wages, employee benefits or other necessary expense increases.

The University's final 1997-98 total operating budget will be submitted for approval at the July 11 Board of Trustees meeting, which will be held at the Berks Campus.

**cr**

Contacts:
Alan Janesch (814) 865-7517 (office) (814) 867-3621 (home) axj12@psu.edu
Christy Rambeau (814) 865-7517 (office) (814) 237-9046 (home) cmr7@psu.edu