Lincoln University approves 2024 fiscal year budget

JEFFERSON CITY, Mo (KMIZ)

The Lincoln University Board of Curators approved the 2024 fiscal year budget on Tuesday, which includes a pay increase for the University's faculty and staff.

A salary study conducted by the university led to an increase of more than $1 million in the budget for the wages of faculty and staff.

University President John Moseley also requested a $2.1 million increase in the budget that would allow Lincoln University to rejoin the Missouri Consolidated Health Care Plan. The increase is still subject to the governor's approval later this month.

There are several different changes to the benefits staff will receive in the coming year, which allow for better healthcare coverage opportunities for staff, according to Moseley.

The Board decided earlier this year to increase LU's tuition and fees by about 5%.

"We spent the greater portion of our year reviewing salaries, and so we are confident that we're making a significant investment, in wages and benefits to make Lincoln a more attractive place to come and work," Moseley said.

Moseley also said wage increases are a first step, not a final step, in the efforts the university intends to make to support their staff.