Room and board costs increased 2.9 percent this year, with rates for 2016-17 starting at $8,715.
Bernie Hannon, vice president for business affairs and treasurer, said there are multiple factors that go into what the pricing will be each year.
“The university's residence halls and dining services operate as self-supporting activities,” Hannon wrote in an email. “[A] large portion of the Housing and Dining budget consists of expenditures over which we have little control.”
Hannon said there are fixed costs, like operating a facility, and housing and dining are subject to inflationary increases.
The average annual increase in the Housing and Dining budget between 2011-12 and 2016-17 has been 1.7 percent, Hannon said.
According to the College Board, the average room and board rate for a public, four-year university during the 2015-16 school year is $10,138. This is an increase of $336 from the 2014-15 school year, and $779 from 2011-2012.
Each year, the Board of Trustees analyzes expenditures for six different factors. These include the staffing levels in the halls, along with the staff's salaries and benefit programs. Price inflation on supplies must be accounted for, along with equipment needs and debt service on the facilities. The Board must also look at any other facility requirements that may come up.
Hannon said the board also looks at occupancy rates for the upcoming year and must factor in the premium plan participants, whose room and board rates are frozen when they sign a two-year contract to live on-campus.
“This thorough analysis allows us to determine the lowest rate necessary to generate the revenue needed to cover projected expenses for the Housing and Dining services, no more and no less,” Hannon said.
Hannon also highlighted measures the university has made to reduce costs. The Board introduced a new cleaning system for residence halls. It also reworked the grab-n-go production in dining services and organized the staff in new ways. Lastly, the Board also looked into reformatting publications to reduce printing costs.
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