FOR IMMEDIATE RELEASE

REGENTS APPROVE HOUSING RATES AND RESIDENCE LIFE BUDGET FOR 2002-2003 ACADEMIC YEAR

CAPE GIRARDEAU, Mo., Feb. 25, 2002 - The Southeast Missouri State University Board of Regents today approved new room and board rates effective with the fall 2002 semester and approved a $13.5 million Residence Life budget for fiscal 2003.

Dr. Pauline Fox, vice president for administration and enrollment management, says the University can accommodate, with the addition of a new 300-bed residence hall to open next fall, as many as 2,709 students in on-campus housing for the fall 2002 semester.

Under the approved plan, rates will increase 3.03 percent to 3.05 percent in Southeast’s existing residence halls for next academic year. No rate increases are planned for private rooms.

“Rate increases are primarily dedicated to ongoing departmental operations and commitment to a eight-year capital improvements plan, which necessitates end of year contributions to the Residence Life fund balance. The eight-year capital improvements plan will allow Residence Life to make required renovations, as well as student-desired renovations, from existing revenues over an eight-year period,” Fox said.

“A financial analysis completed by the Housing Master Plan consulting firm of Brailsford & Dunlavey in May 2001 indicated that Residence Life could afford debt service for the new residence hall now under construction with an increase in room rates (and inflation) of 3 percent per year.

Rates for the new hall, which will contain the newest and largest rooms on campus in a suite-style format, will be 10 percent higher than the rates for Towers suite rooms, as was modeled in the Brailsford & Dunlavey Housing Master Plan.

Based on the new rates, annual residence hall fees will be $2,682 for Dearmont; $2,926 for Cheney; $3,050 for Towers South and East; $3,078 for Dearmont Plus and Myers; $3,587 for Group Housing; $3,745 for triple rooms in Towers North and West; $3,882 for double rooms in Towers North and West; and $4,290 for rooms in the new residence hall.

In addition, the Board approved a residence hall cable television rate of $20 per semester for resident students. This resulted from an increase by Charter Communications, the local cable television provider, from an annual flat cost of $8,000 for cable jacks for the entire campus, including academic buildings, to a higher per-jack cost of $83,200 annually. The $20 per semester per student charge will provide sufficient revenue to pay the new cable charges, and will allow cable access to continue in residence hall rooms and academic buildings, which receive cable channels for instructional purposes. The $20 per semester per student charge also will allow for a small reserve to be used in the event of future rate increases.

“These costs will not be absorbed in the housing contract fee, but will appear separately on each student’s semester financial statement, which will now illustrate individual charges for housing, meal plan, cable television, LAN wiring, and telephone fees,” said Fox. “This will more effectively and visibly answer students’ questions about the total costs of living on campus.”

The Regents also approved 1.05 percent to 1.07 percent increases in board rates, which is less than the Consumer Price Index - Food Away From Home U.S. City Average inflationary figure of 2.9 percent. Based on the new rates, the average meal plan will cost students $1,739 annually.

Under the new standard rate schedule, the most popular meal - 15 meals per week plus $80 in points and 45 bonus meals a year - will cost students $1,796 annually. The 19-meal plan plus 80 bonus meals will cost $1,886 a year. The 19-meal plan plus $40 in points and 60 bonus meals a year will cost $1,902 annually. The 10-meal plan plus $120 in points and 30 bonus meals will cost $1,713 a year. The five-meal plan plus $250 in points and 15 bonus meals a year will cost $1,399 annually.

The points reflected in the board rates are discretionary dollars built into students’ meal plans which can be spent as students wish in the University’s dining facilities outside the residence hall cafeterias, such as Geronimo’s, in the Towers Complex or the University Center.

“With the approved increases, the average combined room and board rates (based on rooms in Towers South/East and a 15-meal plan plus $80 in points) will cost $4,846, which is a 2.3 percent increase from last year,” Fox added.

In other action, the Board approved a 3 percent increase in rental rates for non-traditional student housing on Washington Street. The Washington Street Apartments consist of 19 units and vary in number of bedrooms, size of rooms, and amenities. The increase was necessitated by inflationary and ongoing facility maintenance needs. Monthly rates for the 2002-2003 academic year range from $287.98 for a one-bedroom efficiency at 505 Washington Street to $382.13 for a two-bedroom apartment with a balcony at 401 Washington Street. Rates vary in that range based on the number of bedrooms, size of rooms, and amenities.

“The Housing Master Plan study completed by planning firm Brailsford & Dunlavey in May 2001 reported that rental costs for one- and two-bedroom apartments on Washington Street are 7 percent to 15 percent lower than average apartment rental rates in the local community, making Washington Street Apartments a good value for non-traditional students,” said Fox.