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Budget & Funding 2007-08
Operating Budget — $88,342,511
4.62 percent increase over the previous year
5.93 percent increase in tuition and fees for PA residents
State Appropriation — $14,694,006
includes debt service and special appropriation, a 1.73 percent increase over the previous year
| Unrestricted Funds | |
|---|---|
| Unrestricted scholarships | $77,667 |
| Gifts and donations | $200,000 |
| Use of college resources | $5,000 |
| Parking permit fund | $370,000 |
| Renewal and replacement | $73,856 |
| Restricted Funds | |
|---|---|
| Grants, contracts and restricted donations | $25,514,569 |
| Debt Service Fund | |
|---|---|
| Money received and expended for debt obligations for outstanding bond issues |
$2,166,069 |
| Auxiliary Funds | |
|---|---|
| Food Services | $2,765,462 |
| Children’s Learning Center | $321,930 |
| College Store | $1,523,844 |
| Workforce Development & Continuing Education | $513,907 |
| Student Activities | $1,308,958 |
| Housing | $6,916,039 |
| IMC | $1,392,464 |
Tuition & Fees
| PA Residents | |
|---|---|
| Tuition per credit hour | $319 |
| Tuition and fees per credit hour | $375 |
| Annual tuition and fees based on 15 credits per semester | $11,250 |
| Out-of-state Residents | |
|---|---|
| Tuition per credit hour | $415 |
| Tuition and fees per credit hour | $471 |
| Annual tuition and fees based on 15 credits per semester | $14,130 |
Fees include $15-per-credit-hour technology fee $36-per-credit-hour capital fee $28-per-credit-hour laboratory fee $5-per-credit-hour student activity fee
Penn College awarded $1,231,537 in student scholarships in 2007-08, a 25.1 percent increase over the previous year.
Grant funding supported 46 projects valued at $26.9 million in 2007-08, with another $20.1 million (44 projects) under development for 2008-09. These projects are in addition to the $22.5 million statewide WEDnetPA contract for 2007-08.
When state legislators delivered an unexpected increase of $250,000 in the college’s 2007-08 state appropriation, the administration and board of directors returned the additional funds to students who enrolled in the spring semester. A student enrolled for a typical 15-credit load received a $45 credit.
Enrollment reached an all-time high of 6,811 students in Fall 2007. Bachelor-degree enrollments increased more than 5 percent; students in four-year programs of study accounted for 41 percent of total enrollment.
